JSE-listed Altron subsidiary Bytes Technology Group has bought UK-based IT security specialist Security Partnerships for an undisclosed sum.
Security Partnerships provides secure IT solutions and related managed services to corporate and public sector organisations.
Although Bytes already has various accreditations with a number of global security vendors, this acquisition extends its offerings to include implementation and support services to customers.
The deal extends Bytes' capabilities to include data security, secure e-mail and Web communications, security risk and IT compliance solutions, endpoint security, cloud security solutions, and full implementation and support services.
“IT security remains high on our customers' agenda," says Neil Murphy, group MD of Bytes UK. He says Security Partnerships, which turns over £10 million a year, is attractive because of its customer relationships.
Bytes Technology Group is the parent company of Bytes UK, which comprises Bytes Software Services, Bytes Document Solutions and now Security Partnerships.
Growth plan
“This transaction is in line with our objective to grow organically and through acquisition," says Bytes CEO Rob Abraham. The company aims to replicate its local business in the UK, he adds. “Despite recessionary market conditions, we are seeing excellent growth in the security space.”
“Bytes was a strong performer in the Altron group during the previous financial year. It has a solid, cash-generative business model which we intend to grow. Bytes will continue to look for acquisition targets to further complement and diversify its existing products and services mix,” says Robert Venter, Altron CEO.
“We will let Security Partnerships continue to run as a specialised unit, with appropriate support from Bytes in line with our federated business model,” adds Abraham.
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