Sonae IM strengthens its cybersecurity position in Iberia with the merge between S21Sec and Nextel
Sonae Investment Management (Sonae IM) hereby announces that it has reached an agreement to join Nextel’s and S21Sec’s operations, with the purpose of strengthening the position of its cybersecurity unit in Iberia and Latin America, as well as of taking a decisive step towards the creation of a European cybersecurity leader.
S21Sec is a leading and pioneer Iberian cybersecurity company with a strong presence in Latin America, with a comprehensive and innovative offering of managed services and professional services supported on its proprietary platforms. Nextel is a Spanish company with 30 years of experience and considered a benchmark in auditing and consulting services and also in the integration of the most demanding cybersecurity solutions.
With the completion of this operation, the combined company will have around 400 professionals, highly specialized in cybersecurity, and with a customer base that includes most of the large Iberian companies. The increased scale will further strengthen the ability to keep innovating and providing advanced services in response to the increasing complexity of cybercrime.
The merger between S21Sec and Nextel is especially attractive due to the complementarity between both companies and its value creation potential, namely:
- Expansion of the customer base by sector;
- Reinforced scale in regions where they are already present;
- Enriched offer with the best capabilities of both parties;
- Strengthened team both on scale and diversity of cybersecurity specialists.
Thus, the entire customer base of the company will have access to highly specialized services regarding SOC (security operations center) and Threat Intelligence, relying on the unique capabilities for the whole cybersecurity risk management cycle, namely in prevention, detection, management and incident response.
This transaction is expected to be completed within weeks and is naturally subject to the fulfilment of conditions precedent dependent on third parties, as it is customary for a transaction of this nature.
About Sonae IM
Sonae IM is the technology investment arm of Sonae Group (www.sonae.pt/en/), a multinational exceeding 6 billion Euros in revenues with core activities in retail and telecommunications. Sonae Investment Management invests in cybersecurity, retail and telecommunications technology companies. Sonae IM has more than 17 direct investments, encompassing stakes in companies from early stage to growth stage. Sonae IM has also invested as LP in three VC funds, managed by Armilar Venture Partners, with stakes in 22 companies, which includes Outsystems and Feedzai.
For additional information, visit www.sonaeim.com