UK MSSP Bridewell is joining forces with larger French peer I-TRACING to create a “European cyber security one-stop services powerhouse”.
Ranking 186th in the recent Oxygen 250, Reading-based Bridewell has grown from 67 to over 300 staff since it sold a minority stake to Growth Capital Partners in 2021.
The critical infrastructure-focused Microsoft partner today announced it has formed a “strategic partnership” with Paris-based I-TRACING, which has over 700 employees.
Both bill themselves as the “leading” independent MSSPs in their respective countries.
Bridewell has recently expanded into the US through acquisition, while I-TRACING also operates in Canada, Hong Kong, Malaysia, China and Switzerland.
The transaction, which is subject to regulatory clearances, is being supported by I-TRACING’s founders and managing partners, as well as investors Oakley Capital and Eurazeo and Bridewell Founder and CEO Anthony Young. Sagard NewGen will also reinvest in the transaction.
The deal thrusts Bridewell into a top echelon of European cybersecurity services providers by size that also includes 3,000-employee Orange Cyberdefense and 2,000-employee NCC Group.
“Bridewell has had fantastic growth over the last 12 years to become a leader in the UK cyber security market and we are now all really excited about growing internationally and being able to support more companies around the world at a time of increased international tensions,” Young said.
“I-TRACING and Bridewell, as clear leaders in their markets, backed by the ambitions of Oakley Capital, Eurazeo and Sagard, will ensure we are able to protect more organisations and create a clear leader in the cyber security space.
“I would also like to thank GCP for their invaluable support over the last four years. They understood our business, and their focus on partnership, sustainable ambitious growth and people development has aligned perfectly with our culture as we scaled.”
