Getvisibility, an Irish AI cybersecurity firm, has been acquired by Forcepoint in a multimillion-euro deal. The transaction is a significant milestone for the company led by Ronan Murphy and Mark Brosnan. Murphy, the chief executive of Getvisibility, expressed enthusiasm about the acquisition.
He highlighted the strategic fit and future growth potential under Forcepoint’s ownership. Industry sources estimate the deal to be highly lucrative, although exact figures remain undisclosed. Shareholders stand to benefit significantly from the transaction as Getvisibility’s advanced AI-driven solutions continue to gain traction globally.
Forcepoint, known for its data protection and cybersecurity solutions, aims to integrate Getvisibility’s innovative technology. This will enhance its own offerings and strengthen its market position. The acquisition underscores the growing importance of AI in cybersecurity.
It also highlights the ongoing consolidation in the industry as companies strive to offer comprehensive and robust security solutions. In related news, Mindflair shares leapt 26% to 1.01p after announcing the sale of its entire stake in Getvisibility for an expected €2.1 million (£1.8 million) in cash. The sale of its directly held stake has been agreed with Forcepoint.
Forcepoint’s landmark acquisition strategy
Mindflair expects to receive a total of roughly £2.6 million in cash from other indirect interests in Getvisibility. This includes its investment in Sure Ventures and one of its funds.
The disposal represents a return of six times the direct investment, while the carrying value was £1.2 million on an unaudited basis. Mindflair plans to use part of the cash to settle outstanding loan notes amounting to approximately £800,000 and accrued interest. Getvisibility specializes in data visibility and control, utilizing state-of-the-art artificial intelligence to classify and secure unstructured information.
Smarttech247 Group PLC has also announced a significant update to its financial position. The transaction boosts Smarttech247’s cash reserves and strengthens its commitment to innovation and collaboration with Forcepoint. This deal is expected to support the development of advanced cybersecurity solutions, maintaining the strong partnership between Smarttech247 and Forcepoint.
Smarttech247 Group PLC is a multi-award-winning cybersecurity provider specializing in AI-enhanced services. They offer automated managed detection and response solutions for international clients, ensuring top-notch security standards. This move aligns with Smarttech247’s strategy to focus on core competencies and fortify its financial position.
It reinforces its market presence and investment potential in the cybersecurity industry.
Image Credits: Photo by Abbe Sublett on Unsplash
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