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Wednesday, September 28, 2022

Trill Impact Fund acquires Spain’s Auken Cybersecurity to create cybersecurity leader

Investment fund Trill Impact, backed by asset manager Nordea Asset Management, has acquired Spanish cyber security company Ayuken Security, which specializes in detection, detection and protection services against cyber threats. This is the fourth purchase by the fund in a few months, with the aim of creating a European leader in cybersecurity, called Allureity, after Swedish Arctic Group, ID North and Pulson IAM.

The entity has Euro 900 million to develop this plan and build this European giant dedicated to security with a turnover of around 300 million euros.

The Spanish company, founded in 2012 by former Telefónica director Juan Miguel Velasco, was valued at 50 million euros by its current CEO, but the statement released by the company does not reveal the economic terms of the operation. EY Consultancy acted as consultant in the sales process.

Aiuken Cybersecurity, which has grown by about 40% in recent years, is expected to invoc 20 million euros in 2020 with an expected 10% increase in EBITDA. The Spanish company currently operates in seven countries (Spain, Morocco, Saudi Arabia, United Arab Emirates, Chile, Ivory Coast and Puerto Rico) and has 300 customers and 120 employees. Following its acquisition, Velasco will continue to lead the company.

The fund is confident of the success of its plan to create a group that addresses cyber security comprehensively, as it states that the global cost of cyber security is estimated at 5.5 billion euros per year. In addition, remember that the EU plans to invest 1,600 million euros between 2021 and 2027, as it is very interested in supporting business groups that become regional leaders and other countries such as China and the US. Let’s compete against the group with a guarantee.

Thus, the growth of aleurity will come from the acquisition of more companies. The fund enlists Brussels’ support for the creation of this project, which aims to develop a European digital identity, an important vertical within cyber security.

World Nation News Desk
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