ENGINEERING ACQUISITION OF OMNITECHIT COMPLETED. REBRANDING OF THE COMPANY TO BE CALLED CYBERTECH LAUNCHED
With a solid European leadership in the IT security segment and a turnover of 28 million euro in 2018, the entry of OmnitechIT – from now on Cybertech – as part of the Engineering Group represents further consolidation in a highly strategic area.
On the industrial front, the operation aims to expand the range of Cybersecurity solutions that Engineering will integrate into its offer. At system level, Engineering confirms its role as an aggregator of the best Italian skills for allowing them to grow in the world through its international presence and major investments in R&D.
Rome, 15 March 2019 – Engineering, one of the leading global companies that supports and guides public and private companies in Digital Transformation through its Engineering D.HUB subsidiary, has completed its acquisition transaction of 51% of OmnitechIT. The latter was founded in Italy and, since 2007, has been able to establish itself as the number one national operator specialized in Cybersecurity as well as one of the main European players; in 2018, it achieved a turnover of 28 million euro and had a team of 300 people with specific skills of the highest level.
The agreement calls for the simultaneous rebranding of the acquired company as Cybertech and is an important agreement, not only for its industrial value in a rapidly expanding market but also for its system value.
Paolo Pandozy, CEO of Engineering, stressed: “We have always invested in acquisitions and will continue to do so. Cybersecurity is an emblematic, extremely fragmented market, in which Cybertech is by far the most important Italian operator. Aggregating these skills with ours means creating the conditions to make them grow together with the exponential growth expected for the IT security market, sharing our international presence and the important investments in Research & Development that we support every year”.
It is by following this approach combining solid internal growth with a careful acquisition policy that Engineering has recorded a 67% increase in net revenues and a 65% growth in employees in the last 10 years.
The agreement between the two Groups aims to strengthen the already important leadership of Engineering, which has always seen Cybersecurity solutions as a crucial and transversal part of its offer, designed to support customers in the implementation of IT systems, integration of emerging technologies and consequent redefinition of the management processes of their organizations. In fact, it is precisely in the specific segment of security that the agreement with Cybertech will allow a further extension of the range of solutions offered by Engineering.
Roberto Mignemi, CEO of Cybertech, added: “During this year we have had several contacts with parties interested in our company, both financial and industrial. We chose to join Engineering because we found a common strategic vision regarding the development of Cybersecurity solutions and the same values that have guided our growth so far. We made an industrial choice alongside an extremely solid company, guaranteed by proven serious and correct management in the interests of customers, employees and shareholders”.