BELFAST cyber-security firm Cyphra has been acquired by Pixel Holdco Ltd, the Newcastle-based parent company of cloud centric IT services and data specialist Perfect Image.
Based at the Catalyst complex in Queen’s Island, the Belfast firm, which was founded in 2014, has emerged as leading provider of cyber-security solutions to large public sector organisations, government agencies and private enterprises.
Cyphra will continue to operate under its own brand with its founders and existing senior management team remaining in place. The firm’s managing director, Paddy Trainor, will join the Pixel Board.
Mr Tainor said the deal will help Cyphra accelerate its growth plans.
“This will enable us to continue our investment in our people, our partners and our customers and achieve our ambition of becoming the leading ‘pure-play’ cyber-security company in the UK.
“Working alongside the Perfect Image team will give us the scale, resources, and capabilities to achieve this,” he said.
“Our deep technical know-how and engineering excellence have enabled us to become the go-to cyber-security specialist for our customers and partners, including some of the largest of government organisations in Northern Ireland, national service providers, and the world’s leading cyber vendors, including Palo Alto Networks, F5 and CyberArk.
“We’re excited for the future and can’t wait to continue our growth journey.”
Commenting on the acquisition, Pixel chairman Tom Kelly said: “Cyphra is a strategic acquisition for Pixel as we continue to build out our portfolio of market leading IT managed services companies.
“We recognised that cyber-security was fast becoming the major challenge for customers and having looked at the market we identified Cyphra as an ideal acquisition.
“Its strong leadership team, exceptional technical expertise, stellar customer base and world class technology partnerships set them apart.
“The addition of Cyphra creates a specialist managed IT services proposition with a combined £4m+ EBITDA and I’m really looking forward to working with the leadership teams to help scale and grow the business to the next level.”
