(Finance) – Cy4Gatea national and European player in cyber security and cyber intelligence, has signed, in partnership with Alfa Groupthe closing for the purchase of 97.8% of IKS TN, an Italian cyber security company, operating in the IT security sector and leader in the fight against digital fraud with a significant footprint in banking and also present in the gambling and gaming market. ‘automotive.
The company announces this, following the fulfillment of certain conditions precedent, provided for in the Preliminary Agreement signed on 14 November, including the completion of the merger by incorporation of XTN Cognitive Security into IKS TN,
In detail, Cy4Gate purchased a 77.8% stake of the share capital of IKS TN; Alfa Group has purchased a 20% stake of the share capital of IKS TN. The remaining 2.2% stake is held by the Management, who remained in the company.
As of today, 80% of the total consideration of 12.7 million has been paid, 69.7% by Cy4Gate while 10.3% by Alfa Group. The remaining 20% will be paid by June 30, 2027.
With reference to the amount of 20% – explains the company – it is understood that the same may be reduced up to a maximum of 20% based on the results of IKS TN as of 31 December 2026.
Emanuele Galtieri, CEO & General Manager of Cy4Gate Group commented: “2024 opens with an important acquisition for Cy4Gate. We are very satisfied to have successfully concluded this path that allows us to enter new strategic product and market segments, consolidating our offer of solutions in the world of cyber security. We are certain that we have taken the right path towards the creation of an increasingly competitive and high-performance cyber reality. In this context, the partnership with Alfa Group, a leading company in the banking sector specialized in solutions for combating fraud in digital payments, will add significant value in the ability to extend the customer portfolio and, therefore, the installed base, with clear opportunities for up and cross-selling. We are ready for new challenges, being able to take advantage of a structure enriched in terms of dimensions, skills and offer to the customer”.
Dario Lauricella, CEO of Alfa Group comments: “This acquisition born from the strong collaboration with Cy4Gate and in line with our strategic objectives, represents a fundamental step to extend ours model and our expertise also on the international market valorising the experiences acquired in recent years with Italian financial institutions in the areas of anti-fraud and vulnerability management. This acceleration in the growth path will allow our group to increase our resilience in a logic of continuous improvement not only in defense of financial institutions but of all organizations and their customers”.