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
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
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)