VC Firm C5 Capital on a Security Roll

by Michela Menting | 4Q 2016 | IN-4345

In November 2016, London-based C5 Capital announced the acquisition of New Zealand outfit ITC Security Networking for £24 million. ITC was founded in 1995, and has been focusing on designing and integrating secure cloud based and on premise IT network infrastructures. The firm has built up a global presence over the past couple of decades, and notably in the UK. Its client base includes large multinationals, including British American Tobacco, AB InBev, the Financial Conduct Authority, BT, Orange, CLS Services, Mizuho, ICAP, Old Mutual, and Canaccord Genuity. Revenues in 2009 were estimated at £9 million, and hit £14.5 million in 2015. With access to C5 Capital’s resources, the firm is expecting revenues to grow at a rate of 25% annually.

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