Integralis, which specializes in IT security and risk management solutions, has acquired Secode AB from NTT Communications. The deal potentially empowers Integralis to push deeper into the Nordic region, where Secode promotes managed security services. But ultimately, it sounds like NTT is still calling the shots at Integralis and Secode AB. Here's why.
According to terms of the transaction:
"NTT Com has transferred its 88% shareholding in Secode to Integralis giving Integralis 100% ownership of Secode. In exchange NTT Com receives additional shares in Integralis taking its overall shareholder stake in Integralis to more than 78%."Translation: NTT appears to have majority control of Integralis, and Secode has simply been shifted from NTT's banner to the Integralis banner. Or am I missing something?
Either way, it looks like NTT is seeking to strengthen synergies between Integralis and Secode, which have a longstanding business relationship. Secode AB focuses mostly on Sweden, Norway, Finland and The Netherlands. It sounds like Secode will now promote Integralis's products and services into those core markets.