Cybersecurity firm PlanNet21 acquired by pan-European rival Conscia

The Irish group that owns PlanNet21, Agile Networks and eCom Solutions has been acquired for an undisclosed sum by the Denmark-based pan-European firm Conscia

The Dublin-based cybersecurity integration and sales firm PlanNet21 has been acquired by the Danish-based, pan-European IT integration company Conscia for an undisclosed sum.

Founded in 1998, the PlanNet21 group is majority-owned by co-founder and CEO Peter Carroll and Michael Hannon and includes Agile Networks and eCom Solutions.

Another co-founder is Deirdre Tormey, who was at one stage an EY Entrepreneur of the Year finalist.

With offices in Dublin, Cork, Galway, Belfast and Edinburgh, the Irish group saw a 10pc rise in revenue last year to €69m with operating profits rise 19pc to €15m.

According to the company, PlanNet21 has approximately 300 customers in the public sector and enterprises, primarily within the technology, media, telecom and government sectors.

Owned by the private equity group Nordic Capital, Brondby-based Conscia’s revenue last year was €582m, according to the company. It has over 1,000 customers across Denmark, Germany, Norway, Slovenia, Sweden, the Netherlands, and the UK in finance, healthcare, manufacturing, utilities, retail, and the public sector.

“With Conscia we can accelerate our development through enhanced customer offerings and a pan-European presence. They bring financial strength and scale in networking competencies, and their edge as a cybersecurity leader with award-winning services and solutions coupled with data insights through their platforms for managed detection and response and security information and event management makes them an attractive owner for us,” said Peter Carroll, CEO of the PlanNet21 group.

Both PlanNet21 and Conscia said they would not disclose financial details of the transaction and that completion is subject to regulatory approval.

Reporting on:independent.ie