Integrity360 has acquired European payment card industry qualified security assessor (PCI QSA) and cybersecurity services company Adsigo.
The deal will allow Integrity360 to expand further into continental Europe and add additional skills to its existing PCI and cybersecurity compliance teams.
The acquisition is expected to bring Integrity360's group revenues to €135m this year and increase its headcount to 550 employees, including 400 cybersecurity professionals.
Founded in 2013, Adsigo is a highly respected and well-established consultancy with customers in Germany, Austria and Switzerland.
The company operates out of offices in Stuttgart, Hamburg and Zurich from which it provides services to a range of financial, industrial, and services organisations.
Adsigo has a leading position in PCI compliance and operates as one of the leading QSA organisations in Europe, having completed over 1,500 assessments.
Integrity360 expects the firm will complement its substantial existing PCI practice, which is the most chosen QSA organisation by Visa and Mastercard service providers in Europe.
The Dublin-based firm has been a member of the PCI Global Executive Assessor Roundtable since 2018 to help refine PCI standards.
Adsigo will also complement Integrity360’s existing regulatory and cyber framework services capability including ISO27001, cybersecurity strategy, and third-party risk management.
“We are delighted to be welcoming the team from Adsigo to Integrity360. We have known [founders Ralph Woern and Stephan Engelke] for some time and both organisations share the same passion for technical excellence and customer service as we do," said Ian Brown, executive chairman at Integrity360.
Integrity360 plans to invest further in Adsigo to make it a regional hub for its full suite of services during 2025 and open a new security operations centre (SOC) in Germany, which will be combined with its existing SOCs in Dublin, Stockholm, Naples and Sofia.
The SOC teams, which consist of around 130 people offer managed services for clients, including endpoint detection and response, extended detection and response, and managed detection and response.
"The enhanced group will now significantly expand our existing activities and cyber services across the DACH region (Germany, Austria and Switzerland) as well as offering the wider range of Integrity360 services to the existing customers of Adsigo," said Brown.
"With the addition of Adsigo, group revenues in 2024 will exceed €135m significantly up on 2023, and group resources to approximately 550 employees.”
Woern, CEO of Adsigo, added: "I am really delighted that Adsigo is joining Integrity360 and continuing the journey that we started some 20 years ago.
"Thanks to the support of our customers and employees, Adsigo has become a leading QSA and provider of cyber services in Germany, Austria and Switzerland.
"Adsigo is excited to continue that journey but also with Integrity360’s support, allowing us to further expand our team, our services, and our market coverage.
"Our skills, combined with those of Integrity360, will provide an extension of our portfolio of professional, support and managed services. This is great news for employees, customers, and partners."
Founded in 2005, Integrity360 now has offices in Ireland, the UK, Bulgaria, Italy, Sweden, Spain, Lithuania, Ukraine, Africa, and the Caribbean.
The group received strategic investment from London-based private equity firm August Equity in 2021, fuelling its expansion across the UK, continental Europe and Africa.
Accounts for Sandyford-based Integrity360 Ltd show the group made proforma revenues of €108.1m, representing annual growth of 9%, and trading EBITDA of €8.1m last year, more than double (+108%) 2022.
Photo: Ian Brown, executive chairman at Integrity360.
(Pic: Shane O'Neill, Coalesce)
