Dublin company raises €21m for growth and acquisition

by Rachel Cunningham
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Rachel Cunningham

Sandyford-based mobile and cloud security specialist, CWSI, has announced the acquisition of BLAUD, a mobility and security specialist based in Utrecht, Netherlands.

To complete this acquisition and to support its ambitious growth plans to become a leading pan-European cloud and mobile security provider, CWSI has secured new funding of €21m, which includes both debt finance and equity investment.

BLAUD will become a wholly owned subsidiary within the CWSI Group; its 20 employees, including CEO and co-founder Thierry Lammers, have joined the group.

The acquisition is CWSI’s first on mainland Europe and it forecasts that group revenues will grow to more than €20m in 2022, with European and UK markets expected to contribute 75 per cent of the overall revenues.

Headquartered in Dublin, CWSI provides mobility and security solutions to enterprise and government customers both directly and through partnerships with global telecommunications providers including Telefonica, Telstra and Hutchison Whampoa (Three).

Thierry Lammers, co-founder and CEO of BLAUD, said: “CWSI and BLAUD share the same DNA of enabling organisations and their employees to work productively and securely from anywhere, on any device. I look forward to working with CWSI to continue to find new ways to create value for our customers and solve their security challenges.”

Ronan Murphy, co-founder and CEO of CWSI, said: “There is a strong overlap in our solution areas, value propositions and company cultures and both organisations have strong representation in the Criminal Justice and Public Health sectors. Bringing the two business together creates one of the largest and most experienced mobile security teams in Europe.”

PHOTO – Ronan Murphy, co-founder and CEO of CWSI

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