Ideal Holdings announced that it has signed an agreement for the acquisition of 100% of the cybersecurity company Netbull, through its 99.76% subsidiary ADACOM. The value of the transaction will amount to € 6.3 million.
In particular, as Ideal points out, Netbull (www.netbull.gr) was founded in 2013 by former Bull executives and provides Cybersecurity services with an emphasis on Incident Response and the provision of Cyber Security Incident Monitoring & Prevention services through a Modern Security Operation Center (SOC) using artificial intelligence and machine learning technologies.
Netbull has 42 employees, 90% of whom are skilled
cybersecurity executives. In 2021 it had Revenues of € 5.27 million, EBITDA € 1.05 million, Fund € 0.2 million and zero borrowing.
Netbull Revenues come mainly from SOC as a Service & Security Incident services and its clientele includes large Public and Private Sector Organizations.
The transaction will amount to € 6.3 million and will be financed upon completion with ADACOM equity and bank lending. It is estimated that in 2022 the two companies together will reach a Turnover of € 20 million and EBITDA greater than € 2.5 million.
EV acted as the exclusive financial advisor of IDEAL Holdings for the transaction. Karatzas & Partners acted as a lawyer
Advisor to IDEAL Holdings.
Source: Capital
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