Business advisory firm Quantuma has advised the shareholders of AIM-listed cybersecurity business, Crossword Cybersecurity Plc, on its sale of assets. The acquisition will unlock the next phase of Crossword Cybersecurity’s growth.
Having identified a funding gap and, alongside discussions to raise finance, Crossword Cybersecurity appointed Quantuma’s sister company Knight Corporate Finance to seek acquirers for the business and assets of the company. Crossword Cybersecurity then instructed restructuring specialists from Quantuma to work alongside them to obtain best outcomes for the client.
Using their sector expertise and rich network of potential acquirers, the combined Knight Corporate Finance and Quantuma team developed and executed a strategic plan to maximise value through an asset-by-asset divestment that was tailored to attract potential buyers for specific technology and product segments. As this was an accelerated transaction, this approach enabled Crossword Cybersecurity to achieve a better overall financial outcome and reduce its exposure risk to any single buyer. In these time-sensitive circumstances, where protecting staff and customers was paramount, the deal delivery team worked intensively to complete the four resulting transactions within an eight-week period.
The deal represents a strategic example of how Quantuma and Knight Corporate Finance leverage industry expertise and tailored strategies to unlock value for assets in all situations, positioning clients for long-term success.
- The group’s consulting division was sold to SysGroup: SysGroup Acquisition - November 19, 2024 - SysGroup
- The group’s threat intelligence tools were sold to Boxphish: Boxphish Acquires Dark Web Threat Intelligence Platform | Boxphish
- The group’s dark web monitoring tools were sold to Acuity RM Group: Acuity Group | Risk Management Technology and Services
- The group’s SOC and Managed Service capabilities were sold to CyberEye Caribbean: Home - CyberEYE
The transaction team at Quantuma was led by Simon Campbell with Adam Zoldan and Katie Horsfield leading the project from the Knight Corporate Finance side.
Simon Campbell, Managing Director at Quantuma said:
“The sales of the individual business units were executed with discretion and efficiency, ensuring seamless transitions for customers, job retention, and value realisation.”
Katie Horsfield, Senior Manager at Knight Corporate Finance commented:
“This was a high-stakes and complex transaction where our combined expertise in the tech and cyber sectors was crucial. We are proud to have navigated the sale process effectively and to have helped our client achieve the best possible outcome under challenging circumstances.”
Stuart Jubb, CEO of Crossword added:
“We really appreciated how Quantuma and Knight Corporate Finance were able to rapidly deploy a team with the know-how and professionalism required for a complex cyber security deal. They had the network to identify and engage with an ideal set of potential buyers within the cybersecurity and IT managed services sectors. Their ability to navigate this complex landscape, ensured that we were able to achieve the best outcome for stakeholders.
I certainly valued that, in the heat of a fast paced and stressful transaction, the team remained grounded with cool heads to alleviate some of the pressure which was a major contribution to the successful outcome of the deals.”
Adam Zoldan, Director at Knight Corporate Finance added:
“This deal certainly reinforced that there is strong demand for cyber security consulting, managed services and software, and we expect to see further consolidation in 2025. Personally, this was another example of how Knight is flourishing as part of the K3 Capital Group, as this transaction was made possible thanks to the expertise of our colleagues at Quantuma”.
