CWSI has acquired AVR International, a UK provider of cyber and cloud security services. The deal values AVR at up to £4.5M, including an element of performance-related consideration, and will see AVR’s founder and 12 employees become part of the CWSI Group with immediate effect.
The new combined entity will securely manage more than 500,000 customer endpoints including PCs, laptops and mobile devices globally, have over 50 employees and combined forecasted revenues of £13M in 2021. Post-acquisition, the UK market is expected to contribute 65% of annualised group revenues.
Headquartered in Sandyford, Dublin, CWSI provides mobility and security solutions to enterprise and government clients both directly and through partnerships with global telecommunications providers including Telefonica, Telstra and Hutchison Whampoa (Three). Since entering the UK market in 2017, CWSI has achieved consistent organic growth of over 50%, predominantly via partner channels, with UK revenues accounting for half of total group revenues.
The acquisition of AVR provides CWSI with an opportunity to increase the range of services offered to AVR’s established high-profile customer base including one of the world’s leading manufacturers of automobiles and commercial vehicles, two magic circle law firms, one of the high streets most recognised global optical retailers and a global private hospital group.
The deal, funded by a combination of cash flow and debt facility, is CWSI’s first acquisition. It supports the group’s strategy to become a leading, pan-European provider of cloud and mobile security solutions through a combination of direct organic growth, strong partner channels and targeted acquisitions.
Established in 2002 in Berkshire, AVR provides a complementary range of cybersecurity, mobile device management, unified endpoint management, cloud security and professional services through its highly accredited and experienced team. AVR founder and CEO, Helen Hall, and all AVR employees, will join the CWSI Group.
Helen said, “We are delighted to become part of the CWSI Group. There is an uncanny match of culture and services between our two organisations. We share skills, knowledge and values that place our employees and customers at the heart of everything we do. Our customers will enjoy direct access to an even wider and deeper team of highly skilled people who will provide each customer with a very proactive and tailored service based on their unique needs.
“We’re very excited by the growth opportunity that now exists as we also look to introduce new services and collaborate with CWSI’s partner community of some of the world’s leading technology vendors.”
Ronan Murphy, CEO, CWSI, said, “This is a hugely significant day for CWSI as we close our first acquisition on our journey to become one of the leading European providers of cloud and mobile security solutions.
“We’re thrilled that AVR has joined our group. It complements us perfectly and provides us with a seamless opportunity to scale at pace in the UK and grow a highly successful direct business alongside our growing indirect channel business, whereby we sell through some of the largest tech companies in the UK. AVR’s international customer base also allows us to build our footprint across Europe and we will accelerate this through organic growth and further strategic acquisitions.”
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