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By Patrick Costello
Orange (ORA.FR) said late Tuesday that it acquired a 100% stake in the cybersecurity-service provider SecureLink for 515 million euros ($576.5 million) on an enterprise value basis as part its strategy to strengthen its position in the cybersecurity industry.
The transaction establishes Orange as a leader in the European cybersecurity industry with an on-the-ground presence in 8 European countries and roughly 1,800 employees, the French telecommunications company said.
Orange is already a leading player in the French cybersecurity market via its Orange Cyberdefense unit, it said. The company acquired the U.K.-based provider SecureData for around $156 million in January to boost its reach in the industry.
The Netherlands-based SecureLink generated EUR248 million in revenue in 2018 and is one of the largest independent cybersecurity-services providers in Europe, Orange said.
The transaction is expected to be completed late in the second quarter or in the third quarter of 2019, the company said.
Write to Patrick Costello at firstname.lastname@example.org.
(END) Dow Jones Newswires
May 08, 2019 02:09 ET (06:09 GMT)
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