Observed Signal · Oct 14, 2024 · M&A - Announced · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Conscia acquires PlanNet21 to expand in Europe
Conscia, a pan-European cybersecurity and networking provider owned by private equity firm Nordic Capital, has acquired PlanNet21 Group, an Irish and UK-based provider of cybersecurity, networking, and managed services. PlanNet21, headquartered in Dublin with offices across Ireland and Scotland, reported revenues of nearly €70 million in 2022/23 and serves approximately 300 customers in the public and enterprise sectors, including technology, media, telecom, and government. Conscia, which supports over 1,000 customers in finance, healthcare, manufacturing, utilities, retail, and the public sector across eight European markets, stated that the combined business generated over €700 million in revenue in 2022/23. This marks Conscia's 20th acquisition in Europe, following earlier acquisitions in the UK and Nordic regions. Financial terms of the transaction were not disclosed, and completion is subject to regulatory approval.
Consolidation in cybersecurity/networking services market; relatively small acquisition (€70M revenue target) by a private-equity-backed platform. Not directly core AdTech/MarTech, but relevant to infrastructure and IT services.
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Key Takeaways & Evidence Grounding
- Conscia acquired PlanNet21 Group, which includes PlanNet21 Communications Ltd, Agile Networks Ltd, and eCom Solutions Ltd.
- PlanNet21 Group reported revenues of close to €70 million in 2022/23.
- Conscia is owned by private equity investor Nordic Capital.
- The combined Conscia and PlanNet21 business generated over €700 million in revenue in 2022/23.
- This is Conscia's 20th acquisition in eight European markets.
Connected Companies & Entities
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