Enea announced that it had agreed to buy AdaptiveMobile Security Ltd, a prominent provider of mobile network security solutions. The acquisition has now been finished. On a cash and debt-free basis, the enterprise value of AdaptiveMobile Security is around EUR 45 million. AdaptiveMobile Security is expected to generate revenues of around EUR 17 million in 2021, with an EBIT margin in 2022 that will be near Enea’s operating margin target.
AdaptiveMobile Security develops software and services for mobile core network messaging and signalling security. The firm’s products protect mobile networks, subscribers, and data from all forms of network-based cyberattacks. Unwanted traffic, which can be linked to security issues, service abuse, or revenue loss, is prevented via messaging security. The goal of signalling security is to keep cyberattacks away from taking advantage of signalling transmission. The service combines carrier-grade signalling firewalls, reporting, and advanced monitoring into one package.
More than 80 mobile operators around the world have used AdaptiveMobile Security’s products and services. Mobile operators and communication platform providers are the two main client categories. The solutions are sold as software licenses, managed services, or cloud services, and more than half of its revenue is recurring.
“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,” says Jan Häglund, President and CEO of Enea.
“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. 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 unrivalled combination of networking and security expertise,” says Brian Collins, CEO of AdaptiveMobile Security.
Brian Collins will lead AdaptiveMobile Security, which will continue to function as a new business unit within Enea under its current name.