Peers of Scottish managed security operations specialist Adarma are rallying round its employees following unconfirmed reports that it is intending to file for administration.
Ranking 108th in Oxygen 250, Livingbridge-backed Adarma saw a ten-year streak of uninterrupted growth come to an end in calendar 2023.
The Edinburgh-based outfit bills itself as “the UK’s leading security operations specialist for modern global enterprises”.
From yesterday onwards, multiple Adarma employees have broadcast news of its intent to appoint an administrator on LinkedIn, with several now displaying ‘open to work’ green banners on their profiles.
So far, no notice has appeared in the London Gazette. Neither Adarma nor Livingbridge could be reached by phone at the time of reporting.
The development comes after Adarma moved to appoint a new CEO in September, in the shape of former Capita exec Chris Shaw.
Adarma’s calendar 2023 revenues fell from £47.4m to £44.7m, partly reflecting the decision by its largest consulting client to “insource” the previous year.
“We’re here to support you”
Peers were quick to extend a hand to affected employees, with SEP2 CEO Paul Starr saying he’d “love to connect” with those considering their next move.
“Whether you’re actively looking for a new role or simply want to talk through your options, we’re here to support you,” he wrote in a LinkedIn post.
Kevin Robertson, Co-founder and CTO of Glasgow-based Acumen Cyber, said that he was “incredibly saddened to hear the news”.
“Regardless of competitive tendencies in our industry, this represents a significant net loss to the entire cyber security community. A wealth of innovation, experience, and passion stands to be lost in one fell swoop,” he wrote in a LinkedIn post.
“Adarma were trailblazers in the industry and one of the first to capitalise on the tailored outsourced SOC model that provided immense value to specific sectors, along with many of the more tactical cyber security services that they had in their arsenal.
“To anyone at Adarma, from entry-level roles all the way to senior leadership, who wishes to reach out in confidence about potential positions at Acumen Cyber, please do not hesitate.”
Freha Arshad, MD at Accenture’s Health & Public Services Security team, said Accenture has “many open roles”, meanwhile.
IT Channel Oxygen twice called the Adarma switchboard but was directed to generic email addresses by a chatbot. Livingbridge’s UK switchboard also went unanswered.
