State Bank of India : Accumuli acquires RandomStorm

Accumuli, the independent specialist in IT security and risk management, has acquired RandomStorm Limited for net cash consideration of £8.9m which is being funded through a combination of existing cash resources and new bank debt secured on competitive terms. RandomStorm is a UK based integrated information security specialist. It uses its own intellectual property and services to turn security data into security intelligence in addition to helping to simplify and automate regulatory compliance processes in order to provide peace of mind for network managers that their IT environment is fully protected. Accumuli chief executive Gavin Lyons said: "RandomStorm is a business which has excelled in providing market leading integrated information security solutions and services to help its customers manage IT risk and implement security best practice. Their expertise and experience in IP creation and security services will add tremendous value to our business and our customer intimacy strategy. "As a business we remain focused on helping our customers manage IT risk and leverage their IT assets - we are particularly excited about utilising the IP that has been created and combining vulnerability management, penetration testing, compliance and audit services with our 24x7x365 Security Operation Centre to offer our customers a true end-to-end managed service. "The close proximity of the RandomStorm business to our existing Leeds office provides a significant opportunity to create a substantial base in the Leeds area which will be capable of accommodating all current staff of both businesses and attracting and retaining future talent." Story provided by StockMarketWire.