Information technology (IT) solutions company PlanNet21 has been acquired by Conscia for an undisclosed sum, in a deal that marks the European cybersecurity and networking company’s entry into Ireland.
The deal will help PlanNet21 further develop its European footprint and develop new customers offerings.
The acquisition is Consica’s 20th in Europe. The inclusion of PlanNet21′s revenues will bring Consica’s group revenue to more than €700 million, with the group focusing on organic growth and through acquisitions in recent years.
The company, which designs, implements, and manages secure cybersecurity and networking services and solutions, has more than 1,000 customers throughout Europe, with operations in Denmark, Germany, Norway, Slovenia, Sweden, the Netherlands, and the UK. It is owned by private equity company Nordic Capital.
“I am very pleased to welcome customers and the highly competent people from PlanNet21 Group to Conscia and we look forward to working together in Ireland and on all our combined markets,” said Consica group chief executive Erik Bertman.
“There is a commercial and cultural fit that will create a very compelling customer proposition.”
Founded in 1998, PlanNet21 is headquartered in Dublin with branch offices in Cork, Galway, Belfast and Edinburgh.
The company’s most recent revenues were close to €70 million. It has around 300 customers in the public sector and enterprises, and closely aligns with Consica in its business focus and approach to signing up partners.
“With Conscia we can accelerate our development through enhanced customer offerings and a pan-European presence,” said chief executive Peter Carroll.
“They bring financial strength and scale in networking competencies, and their edge as a cybersecurity leader with award-winning services and solutions coupled with data insights through their platforms for managed detection and response and security information and event management makes them an attractive owner for us.”
PlanNet 21 shareholders were advised by EY Ireland on the sale, which Ronan Murray, EY Ireland Corporate Finance Partner, described as a “landmark deal” in the Irish mergers and acquisition market in 2024.
“PlanNet21 are a true Irish entrepreneurial success who have grown from an indigenous start-up to global experts in cybersecurity, networking and managed services, supporting some of the largest companies in the world,” he said.
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
