Bahrain’s Investcorp acquires UK cybersecurity firm Nebulas

Bahraini investment firm Investcorp has acquired British cybersecurity firm Nebulas Solutions Ltd with its portfolio company SecureLink Group under plans to form a European cybersecurity giant.

The acquisition is Investcorp’s second of a regional cyber security company this year, following its recent purchase of Scandinavia’s Coresec Systems.

Read: Bahrain’s Investcorp to acquire European cyber security firm Coresec

Nebulas offers cyber security products and services to mid to large enterprises in the UK and has 50 staff.

Investcorp said the combined Coresec, SecureLink and Nebulas would operate across six countries, employ 550 staff and generate more than €235m in revenue.

“As a combined group SecureLink, Coresec and Nebulas will form the second largest cybersecurity player in Europe providing best in breed products suited to a wide range of industries,” said Investcorp co-CEO Mohammed Al-Shroogi.

“The Nebulas acquisition gives us access to new markets, increased scale, a diversified product offering and a wealth of new talent and expertise. With this second add-on acquisition we believe we are one step closer to forming the leader in pan-European cybersecurity and we think Nebulas is the perfect fit as we continue building upon this goal.”

SecureLink CEO Marco Barkmeijer said Nebula founder and CEO Nick Garlick would be joining the combined firm.

Investcorp has seen its most active period since the firm’s inception in the last 12 months after signing five new deals and exiting nine portfolio companies.

Recent acquisitions have included Coresec and luxury Italian menswear brand Corneliani.

Read:Bahrain’s Investcorp to acquire majority stake in Italy’s Corneliani

The firm also sold UK crisp brand Tyrrells earlier this month and said it planned to make up to six new investments in the next year.

Read: Bahrain’s Investcorp plans up to six new investments

This followed the recent backing of Abu Dhabi state investment fund Mubadala, which said it would buy a 20 per cent stake in Investcorp at the end of July.

Read: Abu Dhabi’s Mubadala to buy 20% of Bahrain’s Investcorp