Izertis acquires Sidertia, a national benchmark in cybersecurity, the largest acquisition to date
Our firm has announced this Tuesday the most important acquisition in our history after acquiring Sidertia Solutions, one of the best-known Spanish companies in cybersecurity, custody, auditing and prevention. Currently, Sidertia develops cybersecurity projects for the most relevant firms in land, sea, air and space domains, and collaborates with key organisations in the protection of national security and the Spanish Public Administration, as well as in the management of the most critical incidents that affect it.
This operation has a "great strategic significance", as through this move we would position ourselves among the leading national security providers, with the intention of multiplying our projection also at international level and turning this speciality into a benchmark within our portfolio.
On a financial level, our technology company, listed on the IBEX Growth Market 15, incorporates an entity that, according to the audited annual accounts, achieved a turnover of 6.34 million euros in 2021, with an ebitda of 2.12 million, which represents a 33.5% margin on revenues, "a very high percentage for the sector". This, together with the fact that this market is expected to grow by 20% in 2023, according to data from Trading Platforms, represents an "outstanding" growth potential for our consultancy firm in a strategic area.
Sidertia provides a staff of around 100 highly qualified employees, as well as a portfolio of clients with a strong presence in Public Administration and Industry. It designs, implements and applies the technical and organisational measures required by each type of business to prevent cyber-attacks and information leaks. Under the direction of the National Cryptologic Centre (CCN), it develops some of the Agency's fundamental solutions, such as ANA (Automation and Normalisation of Audits) implemented in multiple strategic scenarios of the Spanish Public Administration and State Security Forces; or CLARA, a widely used solution that facilitates the analysis of compliance with multiple official regulations, some of which are mandatory.
This allows us to strengthen quantitatively and qualitatively a critical service for companies and public administrations
Our strategic plan aims to reach a turnover of 125 million euros and 12.5 million euros of ormalised Ebitda by 2023, which means doubling the turnover of the last financial year. In addition, we have been one of the Spanish companies included in the Financial Times ranking of the 1000 fastest organically growing companies among the 36 European countries. Our figures show a compound annual growth rate of 36.95% (turnover) between 2017 and 2020. After Duonet and Okode, Sidertia becomes our company's third acquisition in 2022, and the largest in our more than 25-year history.
Pablo Martín, our president and CEO, has stated that "Sidertia is a national benchmark in cybersecurity, with a long track record in highly specialised projects for clients with complex needs, which allows us to strengthen quantitatively and qualitatively a critical service for companies and public administrations, with significant growth expectations".
Jerónimo García, CEO of Sidertia, has highlighted that "with this integration, Sidertia will be able to improve the solidity and strength of its teams, improving the capacity to respond to the needs of its customers, facing with solvency the new challenges that cybersecurity poses continuously and being able to focus on bigger projects at national and international level".