With focus on enhancing its cybersecurity offerings, Enea has now completed the takeover of AdaptiveMobile Security Ltd, a leading provider of security solutions for mobile networks. The enterprise value of AdaptiveMobile Security amounts to approximately EUR 45 million on a cash and debt free basis
Enea said in a statement that it estimates AdaptiveMobile Security will have sales of approximately EUR 17 million for the full year 2021, with an EBIT margin in 2022 that will be close to Enea's operating margin target.
The acquisition, which will be financed through cash and a bank loan, will be consolidated during Q3 2021 as part of product group Network Solutions.
AdaptiveMobile Security delivers software and services for messaging and signaling security in mobile core networks. More than half of its revenue is recurring, and the solutions are sold as software licenses, managed services, or cloud services.
Commenting on the development, Jan Häglund, president and CEO of Enea said, “I am proud to announce an acquisition that significantly strengthens our cybersecurity portfolio,” As the global leader in mobile network security, AdaptiveMobile Security expands our market presence and broadens our offering to operators, creating interesting opportunities in areas such as 5G security.”
“We are thrilled to become part of Enea, a well-respected leader in the telecommunications and security markets. We are aligned on market strategy and can leverage product synergies that will drive market and customer penetration. Our unique offering of security products will enhance Enea’s product offerings, especially in the area of 5G,” said Brian Collins, CEO of AdaptiveMobile Security.
AdaptiveMobile Security will continue to operate under its current brand as a new business unit within Enea and will be headed by Brian Collins.