Obrela Security – Acquisition of Encode cyber security company

Obrela Security Industries, a provider of cyber security data analysis and risk management services, has announced the acquisition of all the shares in Encode, a company also active in cybersecurity. The acquisition of the shares took place on 30/12/2021.

The acquisition of Encode creates a new dynamic scheme with a strengthened capital base, consolidated turnover of 18 million euros, physical presence in five countries, high know-how, experienced human resources of 180 people and an expanded international clientele. The forthcoming merger of the two companies is expected to change the cybersecurity landscape and make the integrated scheme a global innovation vehicle, capable of claiming new, larger market shares, delivering significant added value to customers, employees and shareholders.

The CEO and co-founder of Obrela Security Industries, Mr. George Patsis, said: “The acquisition of Encode is an important milestone for Obrela and the cybersecurity industry in general. The future of the industry requires the joining of forces and business synergies to deal effectively with ever-changing market conditions, in a highly competitive globalized, digital environment that is evolving at a rapid pace. Together we are able to support even more vigorously and focused our common mission which is none other than “We keep your business in business”, that is, to ensure the smooth operation of our customers’ business activities and their effective protection from cyber threats in real time. We seek the gradual and smooth merger of companies for the benefit of customers, investors and the people of the companies. Our goal is not only to maintain but to strengthen the human resources, following our international expansion strategy and creating 50 new specialized jobs in 2022 “.

Obrela’s founding executives, as well as its major shareholders, EOS Capital Partners and the LATSCO Family Office, say they are satisfied with the excellent prospects offered by the new agreement, while they are committed to supporting the long-term development of the consolidated scheme and its future movements in the international market.

On his part, Mr. Apostolos Tamvakakis, Head of EOS Capital Partners said “We are very pleased that our investment in Obrela, one of the most growing companies in our country, with a significant international presence, is evolving dynamically. The acquisition of Encode comes at an opportune time, as the pandemic accelerated the digital transformation of businesses and governments and highlighted the need for cybersecurity. “We seek to further accelerate Obrela’s growth and, consequently, to make a strong contribution to cybersecurity internationally.”

Mr. Nikos Voutychtis, Chief Investment Officer of LATSCO Family Office in Greece stated: “Recently investing in Obrela, we were well aware that the cyber security industry is in full development and restructuring with the unification of companies in the area to be an obvious and desired development. Encode’s integration with Obrela serves this strategy and provides the integrated scheme with significant economies of scale and complementarity in cybersecurity services, large enough to give its customers a sense of trust. At the same time, he becomes the preferred employer who can attract talented professionals in the field “.