Bridgepoint to Buy Majority of iC Consult, Expanding Cybersecurity Reach
By Anousha Sakoui and Christoph Steitz
Bridgepoint's Acquisition of iC Consult: Key Details and Strategic Impact
Deal Overview and Valuation
LONDON/FRANKFURT, April 27 (Reuters) - Bridgepoint said it has agreed to buy a majority stake in Germany's iC Consult from Carlyle in a deal that increases the British investment firm's exposure to cybersecurity services.
The deal values the German identity security firm at 400 million euros to 450 million euros ($470 million to $528 million), a person familiar with the matter said, declining to be named because the details were confidential.
Growth and Expansion of iC Consult
European and Global Growth
• iC Consult, which employs more than 850 staff across North America, Asia and Europe, grew its European business by around a fifth each year between 2020 and 2025, Bridgepoint said in a statement on Monday, adding the firm also expanded its footprint in the United States.
Carlyle's Exit
• Carlyle, which bought into iC Consult in 2021, will fully exit its position, Bridgepoint said, without disclosing the stake size or purchase price.
Company Leadership and Market Position
• The German firm, which is run by founder Juergen Biermann, helps companies and organisations manage digital access rights, with Bridgepoint partner Christoph Brackmann calling it a "standout business operating at the heart of a structurally attractive and fast-growing market".
Strategic Implications for Bridgepoint
Strengthening Cybersecurity Portfolio
• The deal, which is expected to close in the third quarter, strengthens Bridgepoint's position in the field of IT security after it earlier bought into cybersecurity firms Infinigate and DataExpert.
Future Plans for iC Consult
• Under Bridgepoint's majority ownership, iC Consult will accelerate international expansion, invest in artificial intelligence (AI) services and pursue selective deals to grow its business, the company said.
Market Outlook and Fundraising
Growth of the IAM Market
• Europe's 2.5 billion euro identity and access management (IAM) market is expected to grow at more than 10% a year, driven by increased cyber threats, AI and regulatory demands, Bridgepoint said.
Bridgepoint's Fundraising Progress
• Bridgepoint held the first close of its latest flagship fund, Bridgepoint Europe VIII, this month, securing investor commitments of more than 6 billion euros, around 80% of the way to its target, the source said.
Exchange Rate Information
($1 = 0.8515 euros)
(Reporting by Anousha Sakoui and Christoph Steitz; Editing by Kate Mayberry)
