AdaptiveMobile Security delivers software and services for messaging and signaling security in mobile core networks. The company's products protect mobile networks, their subscribers, and their data from all types of network-borne attacks. Messaging security prevents unwanted traffic which can be linked to security threats, service abuse, or revenue loss. The purpose of signaling security is to prevent cyberattacks exploiting signaling traffic. The offering is a combination of carrier-grade signaling firewalls, reporting, and advanced monitoring.
AdaptiveMobile Security's products and services have been deployed by more than 80 mobile operators globally. The two main customer segments are mobile operators and providers of communication platforms. More than half of its revenue is recurring, and the solutions are sold as software licenses, managed services, or cloud services.
'I am proud to announce an acquisition that significantly strengthens our cybersecurity portfolio,' says Jan Häglund, President and CEO of Enea. 'As the global leader in mobile network security, AdaptiveMobile Security expands our market presence and broadens our offering to operators, creating interesting opportunities in areas such as 5G security.'
'We are thrilled to become part of Enea, a well-respected leader in the telecommunications and security markets. We are aligned on market strategy and can leverage product synergies that will drive market and customer penetration. Our unique offering of security products will enhance Enea's product offerings, especially in the area of 5G.' says Brian Collins, CEO of AdaptiveMobile Security. 'It is critical to protect mobile networks against an ever-increasing threat landscape to maintain the integrity of national and international communications. Together with Enea, we can now serve a wider range of customers and offer an unrivalled combination of networking and security expertise.'
AdaptiveMobile Security will continue to operate under its current brand as a new business unit within Enea and will be headed by Brian Collins.
PwC has acted as financial advisor and Pinsent Masons as legal advisor to Enea on this acquisition. Pegasus Capital acted as financial advisor and Byrne Wallace as legal advisor to AdaptiveMobile Security.
Facts about AdaptiveMobile Security
Privately held company with Intel Capital and Doughty Hanson & Co as majority shareholders
Founded in 2006
Headquarters located in Dublin, Ireland
Regional offices in Dallas, Brno, Dubai, and Hyderabad
Revenue 2020: EUR 15.5 million
Further financial information
The enterprise value of AdaptiveMobile Security is EUR 45 million on a cash and debt free basis.
The acquisition, which will be financed through cash and a bank loan, will be consolidated during Q3 2021 as part of product group Network Solutions.
Enea estimates that the acquisition will be EPS accretive from the fourth quarter of 2021. Enea expects to further improve the operating margin of the acquired business to near Enea's overall profitability target by the end of 2022.
Estimated transaction cost is approximately SEK 13 million, which will be booked during the third quarter 2021. The transaction cost includes stamp duty estimated at SEK 4.6 million.
Jan Häglund, President and Chief Executive Officer
Björn Westberg, Chief Financial Officer
Lotta Trulsson, Executive Assistant
Telephone: +46 8 507 140 00
Enea is one of the world's leading specialists in software for telecommunications and cybersecurity. The company's cloud-native products are used to enable services for mobile subscribers, enterprise customers, and the Internet of Things. More than 3 billion people rely on Enea technologies in their daily lives.
Enea is headquartered in Stockholm, Sweden, and is listed on Nasdaq Stockholm.
For more information: www.enea.com
Enea AB published this content on 15 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2021 16:20:08 UTC.