UK managed security services player, Accumuli, has announced its half-yearly results to the end September 2012. Revenue increased 22% to £6.7m, including a £100k contribution from the EdgeSeven acquisition (see Accumili 'Edges' towards its SIEM goals). Additional growth was driven by SIEM (Security Information Event Management) product and consulting revenues and Webscreen product sales. Group EBITDA increased 20% to £1.2m over the same period last year. During the period Accumuli closed a £400k deal with hotel booking site, Laterooms.
In August Accumuli welcomed new CEO, Gavin Lyons, onboard – and he will certainly have a lot to keep him occupied at this busy company. Accumuli has had quite a period of acquisitive activity (see Accumuli confirms expansive year) but even still we suspect it won’t be long before this “buy and build” company looks at other possible purchases. In the mean time, there are opportunities to start cross-selling products from the acquired entities - all of which are now fully integrated operationally.
Despite the mid-market being a key target area, we were intrigued to learn from management this morning that the firm is working with four out of five of the UK’s largest banks and three out of four of the UK’s largest supermarkets. There is certainly a breadth of opportunity out there, but Accumuli faces an ongoing brand challenge to ensure potential buyers know who it is and what it can do.