Croatian Company Infigo IS Becomes Part of Swedish Allurity Group

Allurity, a European group of cybersecurity service providers, has announced the acquisition of the Croatian cybersecurity company Infigo IS. Commenting on the acquisition, Goran Račić, Head of Corporate Communications and Marketing at Infigo, states that the decision to join the Allurity group was made after careful consideration of the company’s future.

Namely, Infigo was founded in 2005 and has since become a reputable cybersecurity company in Southeast Europe. It currently employs around one hundred experts, and among its clients are multinational banks, payment service providers, hypercar manufacturers, air traffic control, smart cities, nuclear power plants, and even space agencies and military alliances across three continents.

– Infigo IS has been an independent company for 20 years, but we closely monitor what is happening in the cybersecurity industry. One of the main things that everyone can see is that cybersecurity is consolidating – while we could still fight alone, the question is how feasible that really is in the foreseeable or distant future. Likewise, with our clients, we have convinced ourselves that we have products and services that any large company in the world would gladly accept, but to scale that at a European or global level, it is necessary to have partners who can support it – explains Račić, acknowledging that over the years, Infigo has had many ‘serious suitors from various industries’, but they were never completely convinced that they could provide the partnership they were looking for.

According to publicly available data, Infigo IS achieved 9.4 million euros in revenue and 2.2 million euros in profit in 2023. After the acquisition, the company will retain its brand, headquarters in Zagreb, personnel, and technology, but will gain additional investment opportunities for development and business expansion through Allurity.

– Infigo IS remains Infigo IS – we are still a Croatian company based in Zagreb, all employees will remain here, and the management is the same. We are particularly pleased that Allurity recognized us as a complete package, not as something that needs improvement. We have demonstrated maturity, and it is up to us to continue with good work and expansion as we have done so far; since 2009, we have been growing at an average of 33 percent annually – adds Račić.

With the Allurity group, Infigo will have easier access to partners in other European markets, as well as new technologies.

– Until now, we had to do everything ourselves – find technology, get to know it well, see that our clients can benefit from it, and whether it fits into what we want to achieve. Now we have experts within the group who shorten our research time. Of course, we also offer this, so the collaboration will go both ways, just as it should – says Račić, announcing new products and services in the field of cybersecurity.

The value of the transaction has not been disclosed, as it is a business secret.

The Allurity group currently, including Infigo, counts more than 770 cybersecurity experts across Europe, who, as they say, are dedicated to the security of the digital world. The group has already gathered 11 European cybersecurity companies.

In a statement, they emphasize that in times of geopolitical upheaval, a strong European cybersecurity group is crucial for maintaining the continent’s security, and the group’s vision is to become the preferred cybersecurity partner in Europe. ‘Products and services can protect anyone on a global level, but having a sovereign European group of this size and capability is a great advantage for all,’ the statement adds.