The cyber security provider Secunet announced the acquisition of SysEleven on May 17. With the signed purchase agreement, Secunet acquires 100 percent of the shares in SysEleven GmbH. SysEleven is an independent German provider of cloud infrastructure, cloud services, managed services and managed Kubernetes. The company has its own open source-based cloud infrastructure with ISO27001-certified data center locations in Germany and provides "MetaKube", a platform for the management and optimization of computing, storage and network resources based on Kubernetes.

"With the acquisition of SysEleven, we are accelerating our activities in the rapidly growing market for secure cloud infrastructure. We are strengthening our technological position and gaining a team of highly qualified experts with proven skills in project implementation and managed services as well as great expertise in OpenStack and Kubernetes," comments Axel Deininger, CEO of Secunet Security Networks. "Having already developed SecuStack, an open source-based cloud operating system for customers who operate their cloud on premise, we can now also offer a solution as a service and develop it further together. Our customers, who generally work with security-critical applications and confidential information, benefit in two ways: on the one hand from the flexibility in terms of availability, costs and performance, and on the other hand from the high quality and security expertise that secunet has stood for for over 25 years."

SysEleven was founded in 2007 and employs over 100 people. The Berlin-based company serves over 175 customers in the DACH market and pursues a long-term partnership approach with a focus on customers who value security and independence from hyperscalers. The company, which is a member of the European initiative to build a powerful, competitive, secure and trustworthy data infrastructure (GAIA-X), will continue to be operationally managed by the previous managing directors Marc Korthaus, Jens Ihlenfeld and Andreas Hermann after the takeover by Secunet. "We are pouring digital sovereignty into practicable products and will now tackle the energetic further development of our cloud solutions at an even faster pace and add further security aspects," says Marc Korthaus about the advantages of the new constellation. "SysEleven is excellently positioned with its offering and has strong independent market access, which offers us promising potential for the future as a group," says Deininger.

The purchase price amounts to around EUR 50 million and can be increased by a total of EUR 15 million through performance-related components (earn-out) that extend into 2024. The purchase price will be financed from the company's own funds. SysEleven generated revenue of around 15 million euros in 2021. Earnings before interest and taxes (EBIT) amounted to around 1.3 million euros. Secunet assumes that the acquisition will not have a significant impact on the forecast for the 2022 financial year.