Enea has acquired AdaptiveMobile Security, 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.
“I am proud to announce an acquisition that significantly strengthens our cybersecurity portfolio,” says Jan Häglund, President and CEO of Enea. “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.” says Brian Collins, CEO of AdaptiveMobile Security. “It is critical to protect mobile networks against an ever-increasing threat landscape to maintain the integrity of national and international communications. Together with Enea, we can now serve a wider range of customers and offer an unrivaled combination of networking and security expertise.”
Enea estimates that 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. Closing is expected in July 2021.
AdaptiveMobile Security delivers software and services for messaging and signaling security in mobile core networks. The company’s products protect mobile networks, their subscribers, and their data from all types of network-borne attacks. Messaging security prevents unwanted traffic which can be linked to security threats, service abuse, or revenue loss.
AdaptiveMobile Security’s products and services have been deployed by more than 80 mobile operators globally. The two main customer segments are mobile operators and providers of communication platforms. More than half of its revenue is recurring, and the solutions are sold as software licenses, managed services, or cloud services.
AdaptiveMobile Security will continue to operate under its current brand as a new business unit within Enea and will be headed by Brian Collins.
PwC has acted as financial advisor and Pinsent Masons as legal advisor to Enea on this acquisition. Pegasus Capital acted as financial advisor and Byrne Wallace as legal advisor to AdaptiveMobile Security.