Exclusive Networks Signs a Binding Agreement to Acquire Ingecom, Expanding Further Ignition’s Footprint in EMEA
12 September 2023 - 3:00PM
Business Wire
Regulatory News:
Exclusive Networks (Euronext Paris: EXN), a global leader in
cybersecurity, announced today that it has signed an agreement to
acquire Ingecom, a Value Added Distributor (VAD) 100% specialized
in cybersecurity and cyber intelligence solutions to accelerate
Ignition Technology expansion in Southern Europe.
Founded in 1996, Ingecom, a Spanish value-added distributor,
specialized in cybersecurity and cyber intelligence solutions for
emerging and disruptive technologies has a network of more than 500
partners. With headquarters in Bilbao, Ingecom is present in Spain,
Portugal and Italy. The company generated revenue of €38 million in
2022 and its profitability is comparable to that of Exclusive
Networks.
This additional development of Ignition Technology will create
further value for Exclusive Networks by continuing to strengthen
our dual offering both to established and emerging innovative
vendors and help them to transition from challenger to future
segment leader.
Ingecom’s highly skilled team of more than 50 employees,
alongside a very attractive vendor portfolio, and shared company
culture will create strong complementarities with Ignition.
Under the agreement, Exclusive Networks will acquire 70% of
Ingecom, while the remaining stake will be held by the current
managers.
Jesper Trolle, CEO of Exclusive Networks, commented: “We
are excited to welcome Ingecom’s talented and passionate teams into
the Exclusive Networks Group within the Ignition organization. This
acquisition is fully in line with our plans to strengthen further
our portfolio of emerging cybersecurity innovators and stand as the
partner of reference for emerging vendor technologies within EMEA.
Moreover, Ingecom’s management will remain invested in the future
growth of the company and be associated to our common success. We
look forward to developing synergies together to achieve Ignition’s
growth ambitions.”
Javier Modubar, CEO of Ingecom added: “Joining the
Ignition family within Exclusive Networks Group was a natural
choice for Ingecom given the strong complementarities and cultural
fit. We share a passion for cybersecurity and innovation, as well
as the same spirit of entrepreneurship. While pursuing our
activity, this collaboration will allow Ingecom solutions to
benefit from Ignition’s and Exclusive Networks incontestable
expertise and significantly increase our footprint to reach our
aspiring growth plan.”
The closing of the transaction is subject to customary
conditions precedent and expected to be finalised before the end of
the year.
About Exclusive Networks
Exclusive Networks (EXN) is a global cybersecurity specialist
that provides partners and end-customers with a wide range of
services and product portfolios via proven routes to market. With
offices in over 45 countries and the ability to serve customers in
over 170 countries, we combine a local perspective with the scale
and delivery of a single global organisation.
Our best-in-class vendor portfolio is carefully curated with all
leading industry players. Our services range from managed security
to specialist technical accreditation and training and capitalize
on rapidly evolving technologies and changing business models. For
more information visit www.exclusive-networks.com.
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EXCLUSIVE NETWORKS Investors
& Analysts Hacene Boumendjel Head of Investor
Relations ir@exclusive-networks.com
Media FTI Consulting
Emily Oliver / Layla Satchu +33 (0)1 47 03 68 19
exclusivenetworks@fticonsulting.com
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