Dublin-based cybersecurity firm Integrity360 has acquired Nclose, a South African cybersecurity services company with operations in Cape Town and Johannesburg.
It is Integrity360's second acquisition in the country following its takeover of Grove Group, announced in August, and brings the Irish group's staff numbers in South Africa to 180.
Integrity360 has designated South Africa as a significant regional hub as well as a global security operations centre (SOC) location serving both local and international customers.
With the opening of a SOC in Madrid this quarter, Integrity360 will operate six SOC locations for multi-lingual, round-the-clock deployment of managed services, including endpoint detection and response (EDR), extended detection and response (XDR), and managed detection and response (MDR).
Founded in 2006, Nclose has developed a reputation for service excellence and counts a number of leading South African and international businesses among its clients.
The company provides a range of cyber security solutions, including consulting, a full suite of managed services for cyber infrastructure, MDR services and a select range of technology solutions from leading international cybersecurity vendors such as CrowdStrike, Netskope, Tenable, McAfee, KnowBe4, Forcepoint and Sentinel One.
The acquisition will add €18m in revenues, 150 customers and 125 employees to Integrity360, bringing the group's global revenues to more than €150m on a pro forma basis and its headcount to 675.
Nclose also brings to the group Cyberfire, an internally developed, innovative and complementary MDR platform that uses AI to detect and identify malicious activity.
Integrity360 said Cyberfire would complement its existing Gartner-recognised MDR service, which allows integration from multiple security information and event management (SIEM) platforms, network and end-point technologies.
Integrity360 will invest further in the Cyberfire platform and make it available to its wider set of international customers across all territories over the coming months.
“We are very excited to be welcoming the Nclose team to Integrity360," said Ian Brown, executive chairman at Integrity360.
"The journey they have been on since their formation in 2006 is highly impressive and we are looking forward to helping them provide an enhanced set of services to their customers and expanding further in the wider South African market during 2025 and beyond.
"The addition of Cyberfire brings another service and growth capability to the group, further expanding the depth of Integrity360’s XDR and MDR portfolio for the benefit of our wider international customer base. I look forward to working closely with Stephen, Martin and the team over the coming years.”
Stephen Osler and Martin Potgieter, founders and directors of Nclose, commented: “This is a momentous milestone for us, and we could not be more delighted that Nclose is joining Integrity360 and continuing the growth journey we started almost 20 years ago.
"Thanks to the support of our customers, partners and employees, Nclose has grown and flourished during that time, and having spent considerable time with Ian and the wider Integrity360 leadership team, we are confident will continue to do so being part of the Integrity360 group.
"We are excited about the future as an organisation, for our people and in particular for what the enhanced group can provide our customers and partners moving forward.”
Integrity360 received major strategic investment from London-based private equity firm August Equity in 2021 to fuel its growth and expansion plans.
The group now operates 10 regional locations across the UK, Europe and South Africa and has clients across the EMEA region.
Accounts for Integrity360 Ltd show the group recorded turnover of €108.1m (+22% year-on-year) on a pro forma basis in 2023, with earnings increasing 108% to €8.1m.
Photo: Ian Brown. (Pic: Supplied)
