Integrity360 Acquires UK Firm Metadigm

05 Dec 2017 | 09.39 am

Integrity360 Acquires UK Firm Metadigm

Net profit of €3.7 million in 2016

05 Dec 2017 | 09.39 am

Irish cyber security firm Integrity360 has acquired Metadigm, a UK IT security specialist, for an undisclosed sum. The acquisition expands the Irish company’s managed security and cyber security business in the UK. Integrity360 currently operates in the UK through its London and Birmingham offices, with UK activity accounting for 18% of turnover in 2016.

Integrity360 was founded in 2005 and is currently hiring 150 people as part of a recruitment drive to be completed by the end of 2018. Some 175 people are already employed in Integrity360’s HQ in Sandyford, Dublin. CEO and co-founder Eoin Goulding was a finalist in the EY Entrepreneur of the Year competition in 2015.

Integrity360 works with more than 300 companies in Ireland and internationally. Metadigm, meanwhile, has been operating in the UK for more than 20 years and its turnover is estimated to be £3m for 2017.

“It’s fantastic to be integrating Metadigm’s expertise into our overall business, reinforcing our growth strategy and introducing a further skill set to our clients in Ireland,” said Goulding.

Integrity Investments Ltd, wholly owned by Goulding (40), grew turnover by 60% in 2016 to €34.9m. Gross profit was €9.6m and operating profit was €4.2m. After tax the net profit was €3.7m and the company had year-end cash of €8.4m. Goulding and fellow director Gareth Byrne received remuneration of €1.1m and pension contributions of €205,000.

 

Photo: Eoin Goulding (left) and Jason Simper, Metadigm

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