Columbus acquires ICY Security ApS – Expands business to meet customer demand for cyber security
Today, Columbus announced the acquisition of ICY Security to meet customers' increasing demand for secure access to business-critical data.
“In the past couple of years, Columbus has focused on organic growth and on streamlining the core business. Having achieved organic growth in the last seven quarters, we are now adding acquisitions to augment our continued organic growth. The acquisition of ICY Security is an important investment in extending Columbus’ offerings following the increased need for cyber security services from our customers. At the same time, Columbus secures a strong position in a fast-growing market,” says CEO & President Søren Krogh Knudsen.
ICY Security is among the largest consultancies and implementation companies in the Nordics within Identity & Access Management (IAM), which includes Identity, Governance & Administration (IGA), Access Management (AM), Privileged Access Management (PAM) and CIAM (Customer Identity & Access Management). The company employs more than 50 highly skilled consultants based in Ballerup, Aarhus and Aalborg. With the acquisition, Columbus obtains a customer base comprising more than 70 customers, characterized by medium-sized and large enterprise companies.
Christian Almskou, CEO at ICY Security, sees this acquisition as a way to grow the business and offer new opportunities for all employees:
“We see that ICY Security and Columbus share many values and goals, and that both companies can reach results faster together for our customers. This is also exciting news for all ICY Security employees. Being a part of a global company opens for growth possibilities to build new competencies.”
Will be joining the Danish headquarters at Columbus
ICY Security will join their new colleagues at Columbus Denmark as a first step in the transition process. The ambition is then to expand to the rest of the Nordics where Columbus already has a strong presence with close to 1,000 employees. Globally, Columbus has around 1,500 employees.
“Our focus right now is on welcoming our new colleagues from ICY Security and to ensure that they get a strong connection with the rest of the Columbus organization,” says Søren Krogh Knudsen.
Deep inside knowledge important when it comes to Cyber Security
Columbus has a wide portfolio of digital solutions, including Cloud ERP (Enterprise Resource Planning), Change Management, and Application Management Systems. ICY Security’s expertise in cyber security and Identity & Access Management is an addition that many of Columbus’ customers are already exploring to secure their critical data.
“There are great synergies with what we are already doing. We can include ICY Security’s services in our existing operating model and customers' operations. Identity Access Management is a natural addition for us,” says Søren Krogh Knudsen.
“We work closely with all our customers, usually for an extended period of time, which means that we get to know their business inside out. This is obviously advantageous when it comes to implementing solutions like Access Management, because we already know which systems and users we need to consider.”
Søren Krogh Knudsen says that he is open for further acquisitions within cyber security:
“To be able to offer our customers best-of-breed and to accelerate the expansion in our chosen markets, we need to grow our capabilities in this key area. We are happy to be taking this first step with ICY Security and we are looking forward to continuing this journey together.”
About Columbus Global
Columbus is a global IT services and consulting company specialized in digital transformation. Our more than 1,500 digital explorers collaborate with our customers in the manufacturing, retail & distribution, and food & process industries. We advise, implement and manage business critical solutions within Strategy & Change, Customer Experience, Digital Commerce, Data & Analytics, Application Management and Cloud ERP. Headquartered in Denmark, we have offices and partners worldwide - delivering locally on a global scale
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Latest releases from Columbus Global
New analysis of Columbus’ financial result for Q2 2023 published by Aktieinfo31.8.2023 12:16:10 CEST | Pressemeddelelse
The analysis concludes, among other things, that: Columbus delivers what is promised. Growth adjusted for acquisition and currency was achieved with 16% in the second quarter (19% adjusted for currency and including acquisitions) and 14% in the first half of the year. In the second quarter, Columbus managed to invoice 70% of the consultants' hours. This testifies increased efficiency, which is one of the goals of the Focus23 strategy. With the execution of the Focus23 strategy, Columbus appears stringent and focused on servicing the core customer group. The analysis can we found here (in Danish): https://ir.columbusglobal.com/static-files/96127943-4e58-4e34-97be-3790aa0f0a06
Columbus Q2 2023: The organic topline growth continues for the 9th consecutive quarter – all markets show good progress24.8.2023 09:30:01 CEST | Pressemeddelelse
Columbus Q2 2023: The organic topline growth continues for the 9th consecutive quarter – all markets show good progress
New analysis of Columbus’ financial result for Q1 2023 published by Aktieinfo15.6.2023 13:56:02 CEST | Pressemeddelelse
The analysis concludes, among other things, that: “Columbus had a strong start to the year with organic growth of 12%. The greatest growth was achieved in the Danish and UK markets. Currency headwinds due to declines in the value of NOK and SEK in particular mean that the growth in reported currencies ends at 7.3%. Columbus has now delivered organic growth in the last eight quarters." “With the expectation of meeting the goals of the Focus23 strategic plan, we look forward all the more to later in the year when the management unveils a new strategic plan covering 2024 to 2026.” The analysis can we found here (in Danish): https://ir.columbusglobal.com/static-files/87a1cc62-7c29-4a0a-af2e-da1c12f69ba6
Columbus Q1 2023: Higher efficiency boosts operating profit by 33%16.5.2023 09:24:02 CEST | Pressemeddelelse
Columbus experienced good momentum in the first quarter of the year. Revenue increased by 7% (12% in local currencies) and operating profit increased by 33% in Q1 2023. The optimization of the delivery organization is now really taking effect with a boost in efficiency to 67% against 62% in Q1 2022.
New analysis of Columbus’ financial result for 2022 published by Aktieinfo13.4.2023 15:34:39 CEST | Press release
The analysis concludes, among other things, that “The main goal for the Focus23 strategy, which was launched nearly 3 years ago, is to gradually achieve profitable organic growth of approx. 10%. We expect the revenue target to be met this year, where earnings calculated on EBITDA are also expected to improve. Columbus is thus well on the way to living up to its own goals. Management expects to launch a new strategic plan for the period 2024-26 in the fourth quarter of the year. Now the company needs to build on the foundation to increase revenue and earnings in the coming years”. The analysis can we found here (in Danish): https://ir.columbusglobal.com/static-files/3e882b0a-0fc6-4564-8536-4ab5477db240
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