Avecto’s recent acquisition by Bomgar marks a significant milestone for the cybersecurity firm on its tenth anniversary.
With record revenues and continued growth, Avecto co-founders explain the strategic alignment and future prospects with Bomgar.
Avecto, the Manchester-based cybersecurity leader, has been acquired by Bomgar, a prominent American technology group specialising in identity and access management solutions. This acquisition, coinciding with Avecto’s ten-year anniversary, reflects a remarkable 51 percent revenue growth over the previous year, reaching a record £23.5 million. Co-founder Mark Austin emphasises that the decision was influenced more by strategic alignment than an urgent need to sell.
Despite not actively seeking a sale, Avecto’s acquisition by Bomgar is marked by strong cultural alignment between the two companies. Both entities share a commitment to employees, customers, and partners, which Austin believes will facilitate a seamless merger. The alignment also places the combined company as a formidable contender in the broader cybersecurity space.
Avecto’s flagship Defendpoint software, renowned for mitigating ‘privileged access’ attacks, will significantly contribute to the combined entity’s product offering. The focus remains on maintaining high standards of compliance, productivity, and performance.
Austin downplays any increased focus on the US market, instead highlighting the combined strength in both the US and European markets. The integration will enhance their ability to serve customers globally, leveraging a strategic distribution of offices.
This sustainable growth, Austin notes, is a testament to the company’s focus on innovation and the dedication of its staff. The acquisition by Bomgar is viewed as a natural progression of their journey, promising new heights of success.
Ensuring successful integration remains a priority for Avecto’s leadership. Austin and co-founder Paul Kenyon are actively working with Bomgar’s team to realise the merger’s full potential, steering the company towards future accomplishments.
With the merger finalised, Avecto’s team is optimistic about the possibilities ahead. The acquisition signifies more than just a business transition; it’s a catalyst for innovation and leadership in cybersecurity.
With a decade of growth behind them, Avecto, alongside Bomgar, is poised for a future of innovation and leadership.
The strategic acquisition leverages both companies’ strengths to forge a stronger presence in the global cybersecurity landscape.