Oakley Capital Fund V has secured exclusivity to acquire a co-controlling stake in I-TRACING, a leading independent cybersecurity services provider based in France. The investment, amounting to approximately £39 million, will be made through Oakley Capital Investments Limited (OCI) and is part of Oakley’s strategy to expand its portfolio in the cybersecurity sector. The transaction will be conducted in partnership with Eurazeo and is pending consultation with I-TRACING’s employee representative bodies and regulatory approvals.
I-TRACING, founded in Paris in 2005, is known for its comprehensive managed cybersecurity services, including CyberDefence, Managed Detection & Response, Identity & Access Management, Cloud Security, and Data Protection. The company has grown significantly over the past decade, now employing around 700 experts across multiple countries. Its expansion is driven by increasing demand for advanced cybersecurity solutions due to the complexity of IT environments and rising cyber threats.
Oakley Capital’s investment aligns with its strategy of supporting successful businesses with strong growth potential. The partnership with I-TRACING and Eurazeo aims to bolster the company’s position in the European market and accelerate its growth. The investment will also support I-TRACING’s plans for further international expansion and talent acquisition, including hiring 250 new employees in 2024.
This acquisition represents Oakley Capital’s third investment in France and its fifth deal in five months. Oakley Capital Founder and Managing Partner Peter Dubens expressed enthusiasm about partnering with I-TRACING’s founders to drive the next phase of the company’s growth. I-TRACING’s co-Founder and President, Théodore Vrangos, is optimistic about the potential for further growth and the benefits of having Oakley and Eurazeo as investors.
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