Integralis takeover welcomed if correct direction is taken
Dan Turner, chief technology officer at Vistorm, claimed that the business combination agreement announced this week could lead to a much stronger and more robust security specialist if it is done correctly.
Turner said: “This reinforces the trend over the last couple of years for security specialists being acquired by SI's and Telcos (e.g. Vistorm by EDS/HP, Counterpane by BT and ISS by IBM) and the benefits of a discreet security operation combined with the reach and capabilities of a large global player can offer.
“The NTT acquisition does open up big opportunities for Integralis in Asia Pacific – something I am sure they will be focusing heavily on. It also throws up uncertainty as NTT already have a security offering so it has to be assumed some rationalisation is required. There are potential issues on the horizon in integrating very different business models which can lead to an organisation becoming inward focused, senior management churn and dilution of value propositions; something certainly not in the customer's interest.”
As part of the agreement, NTT Com agreed to launch a voluntary public takeover offer for all outstanding shares of Integralis, offering €6.75 in cash per share. Based on the number of Integralis shares outstanding, the offer would represent an equity value for Integralis of approximately €75 million.
NTT Com has already secured irrevocable undertakings from key shareholders including all members of the management and supervisory board of Integralis, representing approximately 30 per cent of the company's voting rights.
As a result of the offer, Integralis will enhance NTT Com's global services offering through a security services platform, thus addressing a key demand of NTT's corporate customers.
According to NTT Com with the acquisition of Integralis, it would be able to service its clients around the world with this strategically important security service. Customers of NTT Com will, for example, benefit from Integralis' worldwide network of security operation centres, which provide a 24-hour service for multi-national companies.
Akira Arima, senior executive vice president of NTT Com, said: “We are looking forward to welcoming Integralis as a partner of NTT Com. The unique expertise in the area of enterprise security services will be extremely valuable for many of our customers. We intend to support Integralis and its workforce on its growth path.”
Georg Magg, CEO of Integralis, said: “For Integralis, this partnership is a fantastic opportunity to stay focused on our core security business and yet pursue growth opportunities around the globe, most notably in Asia. We are looking forward to working with NTT Com for many years to come.”