PARIS, FRANCE: Exclusive Networks (Euronext Paris: EXN), a global leader in cybersecurity, 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.
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