Sonaecom SSI Acquires 60% of Spanish Cybersecurity Multinational S21sec

Sonaecom’s Software and Information Systems’ business division (SSI Software and Technology) has acquired a 60% stake in S21sec, a Spanish multinational specializing in the cybersecurity sector. S21sec, which has a team of over 200 cybersecurity experts, counts Schneider Electric and a group of other prominent founders as minority shareholders.

S21sec works with large organizations in the financial, energy, telecommunications, and public administration sector (including defense and law enforcement agencies) that are primarily based in Spain.

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The S21sec board of directors includes Claudia Azevedo (President), Xabier Mitxelena (CEO), Alexandre Tagger, Rui Paiva and Carlos Alberto Silva.

Commenting on the acquisition, a spokesperson at SSI Software and Technology said, “We have high expectations for S21sec, a pioneer company in areas that are becoming ever more relevant and critical. We believe in the team and see the company’s knowledge and software solutions as distinctive assets with high value in the cybersecurity sector. This sector is absolutely strategic for SSI and has high potential for international growth.”

Going forward, the four main priorities for S21sec are to increase its market share in Spain, expand the company’s leading technology solutions to more markets, (Currently, the company has customers in 15 countries) achieve operational excellence, and continue to train and develop a large team of experts in this area of knowledge.

SSI will continue to pursue an active growth strategy for its portfolio, which currently includes WeDo Technologies, Bizdirect, Saphety, and now S21sec.

The cybersecurity sector is expanding and building on those areas in which Sonaecom SSI intends to continue to lead. Among other things, SSI plans to lead the consolidation of the revenue assurance and fraud management sector, a market space where WeDo Technologies is already a world leader.

About SSI Software and Technology

sonaecomThe software and technology business division of Sonaecom, SSI Software and Technology aims at international expansion and leadership in high growth areas related to information technology and information systems. It currently holds controlling equity stakes in four technology companies: Bizdirect, S21sec, Saphety and WeDo Technologies.

For more information, visit the company’s website at www.sonae.com.

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