SysGroup has created a presence in Scotland with the acquisition of Edinburgh-based Truststream Security Solutions. The buy also enhances SysGroup’s service offering, from threat analysis to detection and incident response.
SysGroup’s recent investments in business systems and infrastructure mean that Truststream’s services will be quickly integrated into its all-in-one business intelligence platform.
The deal involved an initial cash consideration of £4.8m with a maximum earn out consideration of up to £3.075m over a 24-month period. The acquisition has been funded from the Group’s existing cash resources, supported by an £8m revolving credit facility provided by Santander.
Adam Binks, CEO, SysGroup said: "The business complements our existing portfolio of services and has high levels of recurring revenue.
"Additionally, cyber security remains a key priority for businesses of all sizes as threats become both more prevalent and more harmful."