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Turkey's leading cybersecurity companies, Cyberwise and Innovera will merge under Cyberwise to create by far the largest cybersecurity company in Turkey.
Cyberwise and Innovera take a giant step forward in cybersecurity
16 December 2020 Wednesday
Created by the merger of Biznet and Securrent, Turkey's leading cybersecurity company Cyberwise will merge with Innovera, one of the major players in the market, as part of its strategy to become the regional leader.
Turkey's leading cybersecurity company Cyberwise continues to grow in line with its strategy to be the regional leader by joining forces with Innovera, one of the major players in the market. The companies exchanged contracts for the largest merger in the Turkish cybersecurity market. They will come together under the Cyberwise brand and continue to provide end-to-end cybersecurity solutions at global standards while bringing valuable expertise and experience to the market. With this giant step forward, Cyberwise is now one step closer to its strategic goal of becoming the regional leader while growing its customer base as well as its human capital.
Destination: Regional Leadership
Cyberwise Board Member and General Manager Aret Kıllıoğlu made the following statement regarding the transaction: “When we created the Cyberwise vision, we said that we would change the dynamics in the cybersecurity market and achieve high growth, organically and via mergers & acquisitions. As part of our strategy, we started negotiations with one of the major players in the market, Innovera, and undoubtedly concluded that our aspirations for and views about the future cybersecurity market were fully aligned. In the light of this unique alignment, we decided to join our forces under the roof of Cyberwise. We are excited about this transaction as it demonstrates our ongoing commitment to expand and strengthen our position both in the region and in Turkey. As Cyberwise, we will continue to work with an unwavering commitment to expand our client portfolio, broaden the spectrum of our solutions, and enhance our product development capabilities, while pursuing new merger and acquisition opportunities in line with our goals.”
Stating that this will be the largest merger in the Turkish cybersecurity market, Murat Tora, Board Member and General Manager of Innovera, said: “We have been evaluating our strategic options for ‘regional expansion and inorganic growth’, which we set as a goal at the beginning of 2019. We believe that this transaction will yield very positive results for all stakeholders, employees, customers, and business partners of both companies. When these two companies join forces, we create by far the largest cybersecurity company with the largest technical staff, the widest product and service portfolio, and the most powerful financial structure in the local market. Our strategy is clear, to be the biggest player both in Turkey and in the region. We would like to thank Core Finance, our M&A consultant, and everyone who has worked with us during this process."
With the agreement signed between the two companies on December 4, 2020, the legal process officially began. The transaction is expected to be completed at the beginning of 2021, subject to regulatory approvals and other customary closing conditions. Until then, the business operations of both companies will continue as is and independent from each other.
Legal Disclaimer: the forward-looking statements used in this press release are provided in accordance with the agreement of intent to acquire and subject to change until the legal process is fully finalized.
About Cyberwise: Cyberwise is a pioneer cybersecurity solutions provider in Turkey, created in 2019 by the merger of Biznet and Securrent. Cyberwise has a holistic approach to cybersecurity including IT, OT, and Cyber Physical Systems (CPS). The Company with its “one-stop-shop” business model offers technical support services for best of breed products from leading global technology vendors, consulting, and auditing (incl. PCI-DSS and penetration testing) services, and managed security services to enterprises in various sectors, such as Energy, Finance, Telecommunications, and Government. Cyberwise, with over 130 employees located in Ankara, Istanbul, Dubai, and Amsterdam is committed to providing exceptional customer satisfaction and excellence in services provided to over 500 enterprise customers. The private equity fund, Taxim Capital, invested in Cyberwise in 2019 to accelerate the company’s regional growth plans.
About Innovera: Innovera has been offering cybersecurity consulting and integration services in Turkey since 2007 with a strong team of 120 experts. Innovera is a solution partner for global leaders of cybersecurity technologies. With a strong portfolio, Innovera provides end-to-end cybersecurity technologies and cybersecurity consulting services, as well as backup, storage, and disaster recovery solutions and services to over 500 enterprise customers.