This is Klecha & Co.’s 15th transaction in the cybersecurity sector at the European level
Milan, London, Paris, Madrid, November 18th, 2024 - Klecha & Co., an independent pan-European investment bank specializing in the tech sector, acted as the financial advisor to Muscope Cybersecurity in the sale of the latter to TeamSystem, an Italian tech company that develops digital solutions for managing the business of enterprises and professionals.
The acquisition leads to the birth of TeamSystem Cybersecurity, the new suite of products dedicated to cybersecurity of the company that ended 2023 with revenues growing to 851 million euros.
Muscope Cybersecurity, founded in December 2021, with the support of shareholders Primo Capital SGR Spa and CyberK1, has developed a cybersecurity assessment platform that offers in-depth analysis of corporate vulnerabilities, using a proprietary algorithm to simulate the actions of a cyber criminal. The platform can measure an organization's vulnerability rate while also quantifying the hypothetical damage in economic terms in the event of a cyber attack.
Teamsystem, by integrating Muscope's solutions into its offerings, is entering an increasingly strategic area: cybercrimes have increased by 65 percent in Italy, and SMEs in 2023 have intensified their investments in cybersecurity by +25% over the previous year, with 40% of these companies saying they plan to adopt cybersecurity solutions by 2025.
This trend is mirrored by growth forecasts for the global cybersecurity market, which in Italy is expected to reach a value of 2.5 billion euros by 2026, with an annual growth rate of 10%.
“We are thrilled to have supported Muscope in the definition of an agreement with a company of Teamsystem's caliber that will lead to the European deployment of its innovative cybersecurity platform” commented Stephane Klecha, Co-Founder and Managing Partner of Klecha & Co. – “Europe needs strong players in cyber defense, and Italian operators can play a relevant role in building the cybersecurity ecosystem. Klecha & Co. has long worked to foster industry development and alliances between European cybersecurity partners, a sector in which we have already worked on 15 consolidation deals. We will continue to work in this direction, knowing that the sector is not only growing steadily, but more importantly is becoming increasingly strategic for Europe in the new geopolitical environment."