Palatine Doubles Down on Tech Deals
We have continued to support the strategic growth of technology businesses in its portfolio with the completion of two significant strategic acquisitions by Acora and FourNet.
IT managed service provider Acora has acquired UK leading cybersecurity provider Secrutiny. The transaction, which takes Acora’s team to more than 500, is the fourth deal since Palatine invested in the business in March 2020 and the company’s largest to date. In a separate transaction, FourNet, which we backed in June 2021, has acquired IT infrastructure and security company C>Ways.
The addition of London-based Secrutiny’s expertise, means Acora now offers security within its managed IT services offer, providing a truly holistic, end-to-end service for its 300-plus customers worldwide.
David Rabson, CEO, Acora, says: “The cybersecurity market is complex and cluttered; Secrutiny’s maturity and clarity in terms of their people, processes and technology aligns perfectly with our own. We’ve been working closely together for some time and bringing the businesses together now creates exciting opportunities which will benefit all our customers and stakeholders.”
Manchester-headquartered FourNet’s acquisition of C>Ways enhances its secure infrastructure offering to customers and will enable the fast-growing cloud, consulting and managed services company to provide security across the entire technology stack. Founded 24 years ago, C>Ways has 24 employees with a head office in Scarborough, North Yorkshire and an office in Farringdon, London.