France-based cybersecurity auditor and consultancy Almond has acquired the entire shareholding of its Rennes-HQed peer Amossys.
Amossys was founded in 2007, a year after Almond's inception in 2006.
Some 100 organisations utilise Amossys's cybersecurity expertise including mission critical resources in areas such as aerospace, defence, public sector and banking.
A big reason for Amossys's success is the strength of its R&D lab, it says. The lab hosts eight PhD holders employed on a full time basis and funded by state grants.
Rennes itself is emerging as a cyber security hub. France's cyber defence command ComCyber opened in Rennes in 2019, and the city is also home to a critical security branch of the French Armed Forces Ministry.
Amossys has forged credibility in this ecosystem, securing recommendations from France's ANSSI, the national computer security agency, and eIDAS, an EU-led cross-border electronic ID programme, among others.
France of course, is one of Europe's major defence powers and, with e-crime and hostile cyber warfare seen being major threats, we'd expect to see French deal activity in this area.
Almond has a French government accreditation, the PASSI certificate, and it is equipped to help organisations meet cybersecurity benchmarks in their own right. The company has four French branches, in Paris, Nantes, Strasbourg, and Lyon, in addition to operating in the Swiss city Geneva.
Commenting on the acquisition, Almond co-directors Jean-François Aliotti and Olivier Pantaleo said: "Amossys complements Almond perfectly in terms of its experienced team, its technologies, and the services it offers.
"We are delighted to welcome Christophe Dupas, Frédéric Rémi and all the Amossys staff. They will enable us to make greater inroads into the field of defence and the public sector. This operation is confirmation of France's leadership cyber-security."
Almond was backed in 2021 by pan-European private equity firm Apax Partners, whose investment partner Bérenger Mistral commented: "The acquisition of Amossys is totally in line with Almond's strategy.
"They share a strong technical culture and Amossys brings an opening to the public sector, which is an important direction for the group to take.”