Welsh cyber security firm acquired for £1.7 million
Cardiff-based tech firm Geolang, which develops data loss protection software, has been acquired by the Shearwater Group in a deal worth around £1.7 million.
Since launching in 2006, the company has developed a B2B security platform called Ascema and has formed partnerships with the likes of Microsoft, Google and HP.
The company is currently run by chief executive officer Dr Debbie Garside and chairman Andrew Sleigh, who manages its core engineering team. He was formerly CTO of Qinetiq PLC).
In 2015, Geelong was named Britain’s most innovative small cyber security company by InfoSec after receiving support from an Innovate UK joint venture with Jaguar Land Rover and the University of Surrey.
With Ascema, companies can protect sensitive business content. The software classifies and remediates information across the corporate infrastructure, ensuring it doesn’t get into the wrong hands.
Garside said: “Team GeoLang are thrilled to be joining Shearwater at such a pivotal time in the business’ evolution. Finding the right partner to support us in achieving our growth plans has been critical and in Shearwater, we believe we have done that.
“Their strategy of building a digital resilience group with such a strong UK focus resonates well with us and we are very excited about the potential for Ascema and the wider Shearwater Group as a whole.”
As part of the deal, Geolang will be combined with Shearwater’s information security and assurance business. Debbie Garside will retain her position as CEO.
David Williams, chairman of Shearwater, added: “I’m delighted that Debbie and the team have joined the group. For us, GeoLang represents another example of a great British technology business with significant potential to scale.
“Under Debbie’s leadership and with the support of UK academia and the government, the business is now ideally poised to take the next step on its journey, and we look forward to supporting it in its development and helping it reach its full potential.”