Secarma buys stake in Shearwater

15 April 2019

Lawrence Jones

Lawrence Jones

Security specialist Secarma has bought 13.3 per cent stake in Shearwater Group, in a deal worth £7.4m, after selling the firm its Pentest subsidiary.

The assets that have been sold to Shearwater include the Databridge Software Division, which owns and operates a cloud-based platform-as-a-service software  (PaaS) package.

Secarma, owned by UKFast founder and chief executive officer Lawrence Jones, said that business would continue to employ a team of 40 charged with penetration testing.

“Secarma continues to go from strength to strength and we have laser focus on the direction we want to take the business," said Jones. “Two decades’ experience building and supporting cloud platforms with UKFast, and working closely with customers, has given us clear insight into their needs. Our fast-growing cloud security division is where we’re focussing our attention."

“We're building out some really innovative recurring revenue products to give peace of mind to our customers," he added.