LONDON, UK: Redcentric plc introduced the acquisition of the entire issued share capital of seven Elements Limited, an industry main supplier of safety testing, incident response administration and bespoke safety consultancy services.
Under the phrases of the settlement in relation to the acquisition, £1.95m preliminary consideration was paid in money on completion, with a additional earn out payable in money based on the future efficiency of the enterprise over the subsequent 13 months. The most potential consideration payable is £2.4m.
7 Elements works closely with customers to evaluate safety threats, identify weaknesses and ship tailor-made options to guard customers.
The acquisition therefore considerably enhances the Redcentric service portfolio with additional functionality inside the more and more important safety market. In addition, 7 Elements has a strong buyer base, throughout a vary of industries and sectors, which will be able to profit from the mixed Redcentric and seven Elements offering.
7 Elements is CREST accredited and was awarded the “Innovation through Cyber” award on the 2020 Digital Technology Awards for its vulnerability scanning service, Clarus. It has annualised revenues of c.£1m and EBITDA of c.£0.3m.
While 7 Elements is now a key a half of the Redcentric group of companies, it will proceed to function as a standalone enterprise and can proceed to be led by its former owner, David Stubley, who established the enterprise in 2010 and has constructed it to its present size with a extremely expert and expert team.
Peter Brotherton, Chief Executive Officer, Redcentric, commented: “I am delighted to welcome 7 Elements into the Redcentric family. The addition of its services to Redcentric’s existing DDOS, SIEM, managed WAF and information safety consultancy services means we’re now able to supply a full portfolio of safety services to our customers. I’m very a lot looking ahead to working with David and the 7 Elements team to assist guarantee our customers are secure.”
www.redcentricplc.com