Home / Cybersecurity / Portugal's Sonae to expand cybersecurity business with deals – Business Insider

Portugal's Sonae to expand cybersecurity business with deals – Business Insider


Portuguese trade and industrial holding Sonae headquarters is seen in Matosinhos February 18, 2012. REUTERS/Jose Manuel Ribeiro
Portuguese
trade and industrial holding Sonae headquarters is seen in
Matosinhos

Thomson
Reuters


LISBON (Reuters) – Portugal’s retail-focused conglomerate Sonae
plans to buy more cybersecurity firms as it builds a portfolio in
Portugal, Spain, the United States and Germany, a company
official said.

Carlos Silva, executive board member of the conglomerate’s
corporate venture arm Sonae IM, told Reuters it was looking for
more companies to integrate with its Spain-based cybersecurity
business S21Sec, acquired in 2014 and dealing with web fraud
protection, dataleak detection and cyber threat alerts.

Sonae, which runs a stable of Continente-brand hypermarkets,
electronic appliances stores Worten and other outlets, has a
growing online retail business that needs cybersecurity.

Sonae IM also offers these services to clients and had sales of
123 million euros ($147 million) in the first nine months of
2017.

Sonae IM has recently announced its entry into the capital of
German startup Secucloud which specialises in cloud-based
security solutions for mobile networks, and U.S. firm Arctic
Wolf, providing concierge security engineering services.

“We are looking for ‘buy and build’ opportunities to integrate
with S21Sec … There are also other segments for us to bet on
like those where Arctic Wolf and Secucloud operate,” Silva said.

($1 = 0.8389 euros)

(Reporting by Daniel Alvarenga; writing by Andrei Khalip; editing
by Axel Bugge and Alexander Smith)


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