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CY4GATE S.p.A. M&A Activity 2024
6295_iss_2024-07-23_46c8c8b1-1c68-462d-950f-8faad6fd0927.pdf
M&A Activity
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BINDING AGREEMENTS SIGNED FOR THE START OF A STRATEGIC PARTNERSHIP BETWEEN CDP VENTURE CAPITAL AND CY4GATE THROUGH THE ESTABLISHMENT OF AN EQUAL JOINT VENTURE DEDICATED TO THE CYBER SECURITY OF SMES
Rome, July 23, 2024 – CDP Venture Capital SGR, the main Italian venture capital manager participated by CDP Equity (70%) and Invitalia (30%), through the Boost Innovation Fund, a corporate venture building tool that co-creates new businesses together with medium and large companies, and CY4GATE (CY4.MI), a national and European cyber security and cyber intelligence player listed on Euronext Milan, STAR Segment, announce the signing, today, of binding agreements for the start of a strategic partnership through the establishment of a joint venture with headquarters in Rome.
The company will offer complete cyber security solutions - from data collection and risk assessment to recovery plans in the event of cyber attacks - dedicated to the Italian SME segment, through an end-to-end modality capable of guaranteeing maximum level of risk protection.
In addition to cyber security services, the launch of a dedicated cyber insurance product is planned, specifically designed for SMEs, which will guarantee complete coverage against cyber risks.
The company - whose governance will be equally shared between the two partners - will be led by Guglielmo Carsana, as CEO, who boasts a long career with over twenty years of experience in leadership roles at companies in the IT sector and as an entrepreneur in the insurance sector.
The company will have total resources of €3 million in assets and capital which can be increased up to €9.5 million by the shareholders to finance its subsequent growth.
The market for cybersecurity services for SMEs is growing rapidly, with projections of over €750 million in 2028, in line with the growth of attacks detected in Italy and regulatory innovations at a European level. This growing need clashes with the scarcity of turnkey solutions aimed at the SME segment which often do not have the appropriate skills for effective internal risk management. At the same time, although less than 5% of SMEs in Italy have cyber insurance, the sales volumes of cyber insurance products in Italy are growing strongly, with a CAGR of 35-40% in the last 5 years1 .
Agostino Scornajenchi, CEO and General Manager of CDP Venture Capital SGR commented: "We are happy to announce the partnership with Cy4Gate which leads to the launch of this new company dedicated to providing cyber security solutions to small and medium-sized Italian businesses. In an era where digital threats are constantly evolving, it is essential that SMEs also have access to advanced technologies and high-level protection services. The objective we have set ourselves is to offer personalized and accessible solutions that allow companies to operate safely and serenely, thus contributing to their success and the growth of the Italian
1 Eurostat; STATISTA; Clusit 2023 Report; McKinsey Expert Interview; Regulatory Web Site Politecnico di Milano - Osservatorio cyber security & Data protection
entrepreneurial fabric, in the belief that every company, regardless of its size, you deserve to be protected with the utmost care and competence."
Emanuele Galtieri, CEO and General manager of Cy4Gate Group declared: "We are very proud and satisfied with the path that led us to create a strategic alliance with CDP Venture Capital, a partner that today represents a point of reference in Italy and beyond, thanks to the relevant funds managed, for national companies that intend to do innovation and digital transformation in safety. The perception of cyber insecurity that many entrepreneurs experience today is a topic of daily debate in every context. Our alliance marks the beginning of the creation of a "tailor-made" offering for small and medium-sized national companies that intend to improve their posture on cyber security following a digitalisation path. The customer value proposition is designed to fully respond to the difficulties that characterize the delicate and relevant market segment of SMEs in the cyber domain. Cy4Gate will make its expertise and the best technologies available in a path that enables the "democratization" of cyber security for SMEs by giving them access to an ecosystem of services and solutions tailored to them, which are necessary today more than ever".
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This press release is available on the storage mechanism () and on the Company's website www.cy4gate.com
CDP Venture Capital
CDP Venture Capital is an asset management company 70% owned by CDP Equity and 30% by Invitalia, created with the aim of building the Italy of tomorrow, putting innovation at the center of the country's economic development, investing in a new generation of entrepreneurs, to regain the driving role in all the creative, science and technology fields that have always distinguished us. CDP Venture Capital manages 13 investment funds, for over 3.5 billion euros of resources that support innovative companies in all phases of their life cycle, making both direct and indirect investments (funds of funds).
Cy4Gate
Company founded in 2014 with the task of responding to a demand for unconventional cyber security. CY4Gate S.p.A., listed on Euronext Growth Milan in June 2020, has been admitted to listing on the Euronext Milan Star segment since June 2023. CY4Gate S.p.A. was conceived to design, develop and produce technologies and products, systems and services, which are able to satisfy the most stringent and modern "Cyber Intelligence & Cyber Security" requirements expressed by Law Enforcement Agencies, Armed Forces, Institutions and Companies, on the national territory and on the foreign market. Representing a one-of-a-kind Italian industrial project, CY4Gate S.p.A. operates in the cyber market at 360°, with proprietary products that satisfy both the needs of information collection and analysis and security: Quipo and Amico, in the world of Cyber Intelligence; RTA, Diateam, CTI and Pronto Cyber in the world of Cyber Security.
For more information:
Specialist Investor Relation CY4Gate S.p.A. Equita SIM S.p.A. Marco Latini CFO e Investor Relations Manager [email protected]
Marco Clerici +39 335 775 0702 [email protected]
Investor Relation
| CDR Communication | ||
|---|---|---|
Silvia Di Rosa: +39 335 786 4209 [email protected] Luca Gentili: +39 348 292 0498 [email protected]
Media Relation
| CDR Communication | ||
|---|---|---|
| Angelo Brunello: | +39 329 211 7752 | [email protected] |
| Marianna Tremolada: +39 348 242 3039 | [email protected] |
CY4GATE S.p.A. – Part of ELT Registered Office Via Coponia 8 – 00131 Rome Share Capital 1,441,499.94 euro Rome Business Register, Tax Code, VAT no. 13129151000 REA RM-1426295 www.cy4gate.com – www.elettronicagroup.com