goetzpartners advised the shareholders of RADAR Cyber Security

The Materna Group (“Materna”) strengthens itself in the cyber security sector and has acquired 100 percent of the company RADAR Cyber Security (“RADAR”) with effect from 23 September 2022. With the purchase of the Vienna-based cyber security specialist, Materna completes its portfolio in the focus area of cyber security and sustainably expands its capacities and delivery capability in this important market segment. Together with RADAR, Materna aims to become one of the leading cyber security providers in the DACH region.

Dr. Christian Polster, one of the founders of RADAR, will remain on board and take over the management of the company together with Eugenio Carlon. Eugenio Carlon is currently head of the Cyber Security division at Materna. Dr. Christian Polster was previously responsible for the further development of the portfolio as Chief Portfolio Officer. Founder Sebastian Michels will also remain in the company in a responsible position.

“With this acquisition, we are strengthening our ability to deliver in a long-term growth market, completing our portfolio and becoming an end-to-end provider for cyber security services and consulting. At the same time, we are expanding our presence in the DACH region for these offerings. RADAR also fits very well into our strategy of increasingly offering consulting and services with our own software assets, with which we differentiate ourselves. It is also our goal to significantly increase the revenue share of Managed Security Services,” explains Martin Wibbe, CEO of the Materna Group.

“In the area of cyber security, we are already a full-service provider and holistic expert for critical business models and infrastructures with a 360-degree view. By combining both portfolios, we are further expanding our position as an end-to-end provider with regard to the topic of SOC. This allows us to provide our customers with all the services they need to establish a cyber resilience strategy from a single source: Consulting, analysis, solutions and services,” explains Eugenio Carlon from Materna. Materna offers a high-performance security offering in the IT/OT sector to customers who want to tackle their path of further digitalisation and cloudification as part of their IT strategy. In the industrial environment, the target customer segments include discrete manufacturing, process industry, automotive, energy and utilities as well as CRITIS companies.

“We are pleased to be a part of the successful Materna Group and to continue intensively on our path as a SOC technology developer and provider of managed security services. The very homogeneous complementary product portfolio of the two companies is very attractive for the cyber security market and opens up completely new opportunities. Together we will become a leading end-to-end cyber security provider in the DACH region,” says Dr. Christian Polster of RADAR.

Fortlane Partners acted as exclusive M&A advisor to the shareholders, further underlining our competence as advisor of choice in the IT services industry.

About RADAR Cyber Security
RADAR Cyber Security is the only European supplier of Managed Detection & Response who provides its services based on inhouse developed technology. More than 15 years of research and development have brought a comprehensive cybersecurity and IT risk detection solution, used to monitor the IT infrastructures of global market leaders as well as public authorities. RADAR Cyber Security offers the establishment of a Security Operations Centre (SOC) for companies and Managed Security Service Providers (MSSP) based on a cyber security platform and has itself been very successfully providing a SOC as a Service “Made in Europe” for more than ten years. RADAR thus acts as an end-to-end provider for both the equipment of SOCs and the provision of SOC services. Headquartered in Vienna, Austria, the Company employs around 110 people and was founded in 2011.

About Materna Group
The Materna Group was founded in 1980. Today, the privately-held company includes several subsidiaries and holdings generating a combined turnover of 433 million euros (2021). The services of its subsidiaries are an integral part of the Materna portfolio for the implementation of IT and digitization projects. The Company appears on the market as a group of companies and markets all services along the value chain from a single source.

Transaction team:

Maximilian Bergold
Director
 

Lukas Haasis
Analyst