Industry Related TransactionsiC Consult Group Acquires SecureITsource
Buyside Advisor to iC Consult Group
7 Mile Advisors Announces iC Consult Group, A Carlyle Group Portfolio Company, Has Acquired SecureITsource
7 Mile Advisors acts as buyside advisor.
CHARLOTTE, NC – iC Consult Group (“iC Consult”), the leading global service and consulting company in the field of Identity & Access Management (IAM), has acquired SecureITsource, a North American provider of IAM services. This marks iC Consult’s second major acquisition and takes the consultancy to the top of the global IAM services market. 7 Mile Advisors acted as the exclusive North American buyside advisor to iC Consult through both transactions.
“7 Mile’s leadership of our sourcing initiative was key to break into the U.S. IAM market. Their professionalism and fast and precise execution enabled us to consolidate a market-leading position in less than a year. We are excited to continue on this path with the 7 Mile team going forward,” commented Oliver Koethe, Associate Director at The Carlyle Group.
Headquartered in Roswell, Georgia, SecureITsource was founded by a team of experienced IAM practitioners in 2015 to raise the bar and change the status quo in Consulting and Professional Services for Identity Management. The founders accomplished this by focusing on empowering business and by closely collaborating with best-of-breed providers like Okta, SailPoint and CyberArk. Over the past several years, SecureITsource has achieved an impressive year-over-year growth rate, which aligns perfectly with iC Consult’s own dynamic growth.
“Coming right on the heels of our recent ICSynergy acquisition, this is a truly relevant strategic addition to our portfolio. SecureITsource is a strong and established IAM player with a large customer base, a deep technological understanding and a very advanced IAM offering,” says Jürgen Biermann, CEO of iC Consult Group. “Over the past few years, they have built tremendous momentum – and will help us to further strengthen our leadership position in the IAM services market. We are excited to join forces, and to accompany our joint customers throughout their IAM journey.”
Ken Stone, CEO of SecureITsource, adds: “Over the past few years, SecureITsource has experienced highly dynamic growth, and has established itself as a trusted and well-recognized name in the U.S. marketplace. The acquisition by iC Consult will enable us to scale for further, sustainable growth and to expand our footprint, both geographically and technologically. It will also allow us to offer our Identity clients a wide range of new services and efficient 24/7 support across all time zones, paving the way for full-scale international projects on both sides of the Atlantic. I am thrilled to be part of this collaboration.”
On January 13, iC Consult announced the acquisition of ICSynergy and strengthened its IAM business with the renowned provider of identity-centric cybersecurity services based in Plano, Texas. With these two acquisitions in the books, iC Consult Group, which is held by The Carlyle Group and Jürgen Biermann as the major stakeholders, employs over 500 people at 15 locations worldwide.
As an established brand, SecureITsource will operate as a standalone business unit within iC Consult Group under the leadership of CEO Ken Stone.
7 Mile Advisors continues to act as a buyside advisor to iC Consult as the company seeks additional acquisitions in the IAM space. For more information on trends in Identity and Access Management, or to see other representative buyside transactions 7 Mile has completed, visit www.7mileadvisors.com.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About iC Consult
iC Consult Group, headquartered in Munich, Germany, is a leading independent consultancy, systems integrator, and services provider for Identity & Access Management (IAM). The service portfolio covers business and process consulting, architecture, design, implementation, and integration to IAM managed services and identity as a service offerings. The company’s more than 500 employees have successfully delivered over 3,000 projects and managed services for IAM. The iC Consult Group, with its affiliates iC Consult, xdi360, IAM Worx and Service Layers, has offices in Germany, Switzerland, Austria, Spain, Bulgaria, the UK, the U.S., Canada, and China.
More information at www.ic-consult.com.
