Conscia Expands into Ireland with Acquisition of PlanNet21: A New Era in Cybersecurity and Networking
In a significant move that underscores the growing importance of cybersecurity and networking solutions in Europe, Danish firm Conscia has announced its entry into the Irish market through the acquisition of PlanNet21. This strategic acquisition not only enhances Conscia’s footprint in Europe but also promises to bolster the capabilities and offerings available to both public and private organizations in Ireland and the UK.
A Closer Look at PlanNet21
Founded in 1998, PlanNet21 has established itself as a key player in the cybersecurity and networking landscape, boasting annual revenues nearing €70 million. With offices strategically located in Dublin, Cork, Galway, Belfast, and Edinburgh, the company serves approximately 300 customers across various sectors, including technology, media, telecommunications, and government. This extensive experience and customer base position PlanNet21 as a formidable asset for Conscia as it seeks to expand its services in the region.
The Financials Behind the Deal
While both companies have opted not to disclose specific financial details regarding the acquisition, sources indicate that the deal is valued at approximately €175 million. This acquisition is subject to regulatory approval and customary closing conditions, but it marks a significant milestone for Conscia, which is owned by private equity investor Nordic Capital. The combined revenue of Conscia and PlanNet21 Group is expected to exceed €700 million, further solidifying their position in the European market.
Conscia’s European Presence
Conscia is no stranger to the cybersecurity and networking arena, supporting over 1,000 customers across various sectors, including finance, healthcare, manufacturing, utilities, retail, and the public sector. With a presence in Denmark, Germany, Norway, Slovenia, Sweden, the Netherlands, and the UK, the acquisition of PlanNet21 represents Conscia’s 20th acquisition across eight European markets. This strategic expansion follows recent acquisitions, including a digital transformation provider in the UK, ITGL, and Nordic Kanari Group, which specializes in observability.
Enhancing Customer Offerings
The acquisition is poised to enhance PlanNet21’s customer offerings significantly. According to PlanNet21 CEO Peter Carroll, the partnership with Conscia will provide access to greater financial strength and scale in networking competencies. Conscia’s reputation as a cybersecurity leader, coupled with its award-winning services and solutions, positions the company as an attractive owner for PlanNet21. Carroll emphasized that the integration will allow them to offer enhanced data insights through platforms for Managed Detection and Response and Security Information and Event Management.
A Vision for the Future
Conscia Group CEO Erik Bertman expressed enthusiasm about the acquisition, highlighting the cultural and commercial fit between the two organizations. He stated, “I am very pleased to welcome customers and the highly competent people from PlanNet21 Group to Conscia. We look forward to working together in Ireland and on all our combined markets. There is a commercial and cultural fit that will create a very compelling customer proposition.”
A Testament to Irish Entrepreneurship
Ronan Murray, a Corporate Finance Partner at EY Ireland, who served as an exclusive advisor on the deal, praised PlanNet21 as a true Irish entrepreneurial success story. He noted that the company has evolved from an indigenous start-up to a global expert in cybersecurity, networking, and managed services, supporting some of the largest companies in the world. This acquisition not only highlights the growth of PlanNet21 but also reflects the increasing demand for robust cybersecurity solutions in an ever-evolving digital landscape.
Conclusion
The acquisition of PlanNet21 by Conscia marks a pivotal moment in the cybersecurity and networking sectors in Ireland and the UK. As both companies prepare to integrate their operations, customers can anticipate enhanced services and innovative solutions that leverage the strengths of both organizations. With a shared commitment to excellence and a vision for the future, Conscia and PlanNet21 are poised to make a significant impact in the cybersecurity landscape, ensuring that organizations across Europe are better equipped to navigate the complexities of the digital age.