secunet acquires cloud specialist SysEleven GmbH
IT security company secunet Security Networks AG has acquired SysEleven GmbH, a specialist in cloud infrastructure and services. The acquisition aims to significantly expand secunet's cloud and cloud security solutions.
German IT security firm secunet Security Networks AG announced on May 17, 2022, that it has signed an agreement to acquire 100 percent of the shares in cloud specialist SysEleven GmbH. This move is intended to significantly broaden secunet's offerings in the areas of cloud and cloud security solutions.
SysEleven, founded in 2007, provides cloud infrastructure, cloud services, managed services, and managed Kubernetes. The company operates its own open-source based cloud infrastructure with ISO 27001-certified data centers in Germany and offers MetaKube, a platform for managing Kubernetes environments. SysEleven employs over 100 individuals and serves more than 175 customers primarily in German-speaking markets.
"With the acquisition of SysEleven, we accelerate our activities within the fast-growing market for secure cloud infrastructure," stated Axel Deininger, CEO of secunet. "This strengthens our technological position and brings us a team of highly qualified experts with proven capabilities in managed services and deep expertise in OpenStack and Kubernetes."
The purchase price amounts to approximately 50 million euros, with potential performance-based earn-out components of up to 15 million euros extending into 2024. SysEleven reported sales of around 15 million euros and earnings before interest and taxes (EBIT) of approximately 1.3 million euros in 2021. secunet anticipates the acquisition will not materially impact its 2022 financial forecast.