Priority Data, one of Ireland's largest IT security consultants, has been acquired by Dutch group Unit 4 Agresso for an undisclosed sum, writes Edward Power.
Priority, which employs 28 in Dublin and London, posted €8 million in sales last year and, according to industry analysts, is valued at €10-€15 million. The acquisition will be part-financed through the conversion of a €380,921 working capital loan.
The company's main product ePDSECURE provides the enabling technology for hardware-based authentication such as smart cards and USB tokens to be integrated into a secure PKI environment.
Established in 1991 by Mr Alex Florence, Priority boasts an enviable client portfolio, including AIB, Bank of Ireland and several local authorities.
Having originally specialised in virus protection, it recently expanded into the burgeoning data security sector. Mr Florence has now retired as a director and is leaving the computer industry.
Mr Harry de Smedt, chief operation officer for Unit 4 Agresso, said the takeover would copperfasten the Dutch firm's standing as one of Europe's most far- reaching computer security providers, with subsidiaries and distributors in Norway, France, Britain, Sweden, Germany, Italy, Iceland, Spain and Belgium.
The buy-out paves the way for Priority to become the largest player in its niche in Ireland and Britain, managing director Mr Pat O'Brien predicted.
