Dublin cloud security firm raises €21-million funding and acquires Dutch startup

Irish mobile and cloud security specialist CWSI has raised funding of €21 million and acquired Utrecht-based mobility and security specialist BLAUD.

The funding round, comprising debt finance and equity investment, was led by the private equity fund Castlegate Investments. The latest deal for CWSI follows its acquisition of the UK-based cyber security services provider AVR in April last year.

CWSI said its group revenues will grow to more than €20 million in 2022 following the Blaud acquisition, most of which will come from outside Ireland. Blaud’s 20 employees will become part of the CWSI group. The Utrecht-based company’s clients include Smurfit Kappa, Amsterdam UMC, the Dutch Department of Waterways and Public Works, and law enforcement organisations.

Ronan Murphy, co-founder and CEO, CWSI said: “There is a strong overlap in our solution areas. Both organisations have strong representation in the criminal justice and public health sectors. Bringing the two businesses together creates one of the largest and most experienced mobile security teams in Europe.”

Thierry Lammers, co-founder and CEO, BLAUD, added: “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 finding new ways to create value for our customers and solve their security challenges.”