According to Cinco Días, the combination of both businesses will strengthen SIA’s cybersecurity services offering by incorporating new solutions, mainly in the field of threat detection, according to a statement. Indra bought SIA in January 2020 and has acknowledged on several occasions that cybersecurity is one of the levers of growth in its operations worldwide. Neither company has disclosed the amount of the deal, which will allow SIA to strengthen its position in the public sector.
For Roberto Espina, CEO of SIA, “the key role that cybersecurity plays today in the strategy of organisations leads us to seek solutions and technologies such as those provided by ICASyS, with its own capabilities and product that perfectly complement our offer of cybersecurity services and, specifically, our extended service of advanced detection and response; and with a good position in the Spanish public administration, mainly.”
The operation gives continuity to SIA’s growth strategy, increases its competitiveness and facilitates the expansion of its presence and business in this field “thanks to a high added value offer, in particular, in the field of cyber threat detection,” according to the company. The agreement also allows SIA to expand its network of Cybersecurity Operations Centres by adding the ICASyS centre in Madrid to those it already has in Madrid, Mexico and Colombia, thus reinforcing the protection it provides to its clients’ activities around the world.
The acquired company was founded 35 years ago, has a team of more than 120 specialists, and has more than 140 clients, mainly in the public sector. Among them are the Spanish Government, the Tax Agency, the Prado Museum, the Imserso, the CNMV and the Basque Government, but also Orange, Endesa and Indra itself, according to its website.
“For us, this is an exciting new phase that will allow us to grow commercially, achieve greater reach as a company and provide the best service to our clients and more opportunities for our professionals,” says Juan Carlos Narro, CEO of ICASyS.
ONTIER’s M&A team was led by partner Jorge Perujo and lawyer Pablo Hernández while Indra’s Legal in-house team was formed by General Counsel Patricia Montoro and M&A senior manager Enrique Blanco.