CWSI, an Irish mobile and cloud security specialist, has acquired Dutch cybersecurity company and mobility company Blaud. Financial terms of the deal were not disclosed.
This is technology M&A deal number 345 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Blaud will become a wholly owned subsidiary in the CWSI Group, the companies said. In addition, Blaud's 20 employees and CEO and co-founder Thierry Lammers have joined the buyer.
What Does the Blaud Acquisition Mean for CWSI?
CWSI will extend the market for Blaud's application development services into the UK and Ireland, the buyer stated. It will provide Blaud's customers with access to its technical resources and channel partnerships, including its Microsoft Security Practice.
Furthermore, CWSI's revenues are projected to grow to more than $21.8 million in 2022, the company said. CWSI also expects the UK markets to contribute 75 percent to its overall revenues during the year.
Blaud provides technical, consulting, support and managed services to customers across the following areas:
- Application and software development;
- Mobile threat defense (MTD); and
- Unified endpoint management (UEM).
Blaud has more than 100 customers, including government agencies and law enforcement organizations. It also offers a channel partner program.
CWSI Raises New Funding
Along with acquiring Blaud, CWSI has raised approximately $22.9 million in new funding from private equity firm Castlegate Investments. The funding supports CWSI's mission to become "a leading pan-European cloud and mobile security provider," the company indicated.
CWSI operates as a combined European MSP-MSSP and provides consulting and professional, managed and security services to organizations in Ireland and the UK. It previously used its own cash flow to reinvest more than approximately $1.16 million in its business in October 2021 and continues to explore growth opportunities.
