French telecommunications company Orange has acquired SecureData, the UK's largest independent cybersecurity company. The managed security services provider (MSSP) generates roughly US$57 million in annual revenues. Financial terms of the deal were not disclosed
Orange will use SecureData's UK security operations center (SOC) to monitor and respond to security breaches, according to a prepared statement. In addition, Orange will leverage SecureData's threat intelligence team to drive the growth and development of its Orange Cyberdefense cybersecurity business unit.
The SecureData acquisition also expands Orange's European cybersecurity services market presence and bolsters Orange's African cybersecurity operations via SecureData's South African business. As such, the acquisition puts Orange in position to capitalize on European and African cybersecurity markets that are expected to grow.
European cybersecurity market revenues are projected to increase at a compound annual growth rate (CAGR) of 11.3 percent between 2018 and 2023 and could reach $47.2 billion by 2023, industry analyst Research and Markets stated.
Comparatively, research firm MarketsandMarkets has predicted the African cybersecurity market will grow at a CAGR of 20.4 percent between 2015 and 2020 and could be worth $2.3 billion by 2020.
What Is Orange Cyberdefense?
Orange Cyberdefense provides managed security, managed detection and response (MDR) and threat intelligence services to global organizations. The company offers end-to-end security solutions across the following areas:
- Access Control.
- Data Center.
- End User.
- Identity and Access Management (IAM).
- Remote Site.
Orange Cyberdefense is the security services market leader in France and ranks sixth among European security services providers, the company said. It also has annual sales of nearly €300 million (approximately $343.8 million).
What Is SecureData?
SecureData offers integrated security solutions that assess cyber risks, detect cyber threats, protect organizations' IT assets and respond to security incidents, the company said. It currently provides security solutions across more than 7,000 customer devices, and the company's cybersecurity services portfolio includes:
- European Union (EU) General Data Protection Regulation (GDPR) Readiness Assessments.
- Goal-Oriented Penetration Testing.
- Incident Response.
- Managed Distributed Denial of Service (DDoS) Mitigation.
- Managed Next-Generation Firewalls.
SecureData has provided integrated security solutions globally for 25 years. Furthermore, SecureData recorded annual revenue of €50 million (roughly $57.4 million) in 2018 and has posted annual growth rates of approximately 20 percent since 2016.