Oakley Capital Investments (OCI) has introduced that Oakley Capital Fund V2 has been granted unique rights with a view to buying a joint controlling stake in I-TRACING, a number one impartial French supplier of cybersecurity companies. OCI’s oblique contribution by way of Fund V pertains to OCI’s stake in Oakley’s funding in I-TRACING and is anticipated to be as much as roughly £39 million.
Further particulars of the announcement are supplied beneath.
Oakley Partners with Eurazeo to Invest in Cybersecurity Services Provider I-TRACING
Founded in Paris in 2005, I-TRACING is the main pure-play managed cyber safety companies supplier in France, working with prime enterprise and mid-market corporations. I-TRACING presents its purchasers a one-stop service together with cyber protection, managed detection and response companies, id and entry administration, cloud safety, information safety and audit. One of the corporate’s key differentiators is its premium Security Operations Center (SOC) managed companies providing, leveraging an built-in, worldwide “follow-the-sun” working mannequin to guard complicated environments 24/7.
Over the previous decade, I-TRACING has expanded globally to satisfy the internationalization wants of its purchasers and now employs round 700 cybersecurity specialists throughout France, Canada, Hong Kong, Malaysia, China, Switzerland and the UK.
I-TRACING has greater than doubled in measurement over the previous three years, pushed by natural income progress of roughly 30% per yr by way of acquisitions. The firm is benefiting from the rising demand for mission-critical cybersecurity companies pushed by rising complexity of IT architectures, the proliferation and class of cyber threats, and a seamless scarcity of cyber expertise resulting in elevated outsourcing. These are all long-term traits which are anticipated to drive continued robust progress within the coming years.
The funding in I-TRACING continues Oakley’s technique of backing nice founders with a confirmed observe document of making profitable companies. Oakley will work with I-TRACING’s founders and administration crew in partnership with present anchor investor Eurazeo, together with Sagard NewGen, who will reinvest as a minority investor. All events will work collectively to drive the following stage of the corporate’s progress and realise its ambition to develop into the European champion in cybersecurity companies. I-TRACING will leverage its main market place to develop its blue chip consumer base, pursue additional M&A alternatives and proceed to draw the very best expertise as a most popular cybersecurity employer, with plans for 250 new hires in 2024.
This marks Oakley’s third funding in France, following greater training platform ACE Education, and ProductLife Group, a supplier of regulatory and compliance companies to the worldwide life sciences business. It additionally marks Oakley’s fifth transaction in 5 months, extending a interval of serious deal exercise for the corporate.
“Oakley Capital is a world chief in sports activities and leisure, and we’re thrilled to associate with them on this thrilling new enterprise,” mentioned Peter Dubens, founder and managing associate of Oakley Capital.
“I-TRACING is a enterprise we’ve adopted for a few years and we’re delighted to have the chance to associate with Theodor and his fellow co-founders to take the corporate to the following stage in its historical past. The enticing progress drivers on this market are structural and long-term and we’re assured that I-TRACING, with its robust fame and unrivalled expertise capabilities, will proceed to thrive as a associate of alternative for blue-chip corporations throughout Europe.”
Theodor Vrangos, co-founder and president of I-TRACING, mentioned:
“We see vital potential for additional natural and exterior progress to create a number one European MSSP. Combining Oakley Capital and Eurazeo as buyers gives robust complementarities and alignment that can allow us to speed up our worldwide progress trajectory whereas sustaining a lovely atmosphere for gifted groups, upholding our values, the standard of our experience and our dedication to our purchasers.”
OCI: OCI strengthens tech publicity with cybersecurity investments