Bahrain’s Investcorp has acquired cybersecurity firm HWG for an undisclosed sum as the Italian company seeks to expand in core markets and new verticals.
HWG, acquired by Investcorp Technology Partners (ITP) a unit of Bahrain-based Investcorp, is the third cybersecurity transaction for the firm in three years, as it zeroes in on businesses that focus on B2B end markets and solve mission-critical problems.
It is the first platform investment for ITP’s Fund V.
HWG co-founder and CEO, Enrico Orlandi, and the other co-founders, Claudia Rangogni, Andrea Boni and Andrea Pomari, will continue to lead the company, which was founded in Verona in 2008, having retained their ownership in HWG alongside Investcorp.
HWG provides cybersecurity solutions in Italy with expertise in security operations centre solutions and protecting mission critical systems in industries including finance, fashion, automative, telecommunications and manufacturing.
Yusef Al Yusef, Head of Investcorp Private Wealth, said: “We are delighted to announce another high-quality addition to our Technology Partners portfolio. We see many exciting opportunities ahead and are looking forward to support HWG as it continues to grow in its core markets and expand into new verticals, both organically and inorganically.”
The investment follows the acquisition of Germany’s Avira, in 2020, which was subsequently sold to NortonLifeLock.
ITP has previously invested in Rtekk, Calligo, Ageras, Impero, Ubisense and Contentserv.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)