KPN agrees deal to acquire QSight IT
KPN set to expand its security services business with the acquisition of QSight IT for an undisclosed amount
KPN has agreed to buy QSight IT, the managed security services and public cloud consultancy provider, based in The Netherlands.
The deal delivers on KPN’s plan to build out its security and public cloud consultancy business and it bolsters its position as a leading security services provider in the country.
Eelco Blok, CEO of KPN, said: "Providing our customers with top notch security services and products is a strategic priority for KPN. With the acquisition of QSight IT we add a team of highly-skilled security and Microsoft professionals, significant security detection and prediction capabilities as well as corporate and large enterprise customers. Together, we will be able to provide our customers with the full scale of products, services and consultancy necessary to ensure that they can keep their ICT networks, systems and products safe - from prevention to detection and prediction."
QSight IT offers various security services including: 24/7 cyber threat security monitoring services and operational security management and cloud consultancy. In terms of worth, the company generated approximately €50 million in revenues in 2016, with a base of 250 employees.
Further to the QSight deal, KPN recently completed the acquisition of DearBytes in January 2017 further expanding its security services portfolio. Though the QSight buyout is still subject to regulatory approval, it complements KPN’s current security service offerings by strengthening its detection and prediction capabilities. Additionally, because of QSight’s public cloud expertise, it broadens KPN’s cloud offerings, enabling it to offer high quality (cloud) security services to all of its SME, LE and Corporate customers.
Earlier this year, KPN announced its partnership with China Unicom on the development of IoT (Internet of Things) networks. The deal will see KPN customers have access to IoT connectivity in the Chinese market and similarly Unicom customers will have access to the European market. Customers are expected to be able to use this service by the end of the year.