ICS cybersecurity acquisition: Silverpeak advises Sentryo on Cisco deal
August 2019 – Silverpeak acted as exclusive financial advisor to Sentryo on its ICS cybersecurity acquisition by Cisco. Sentryo is a France-based company that delivers asset visibility and cybersecurity solutions for industrial control systems (ICS). The deal marks a significant milestone for the industrial cybersecurity sector — and demonstrates Silverpeak’s expertise in complex, cross-border technology transactions.
About Sentryo and ICS CyberVision
Sentryo pioneered solutions for managing cyber risk in M2M networks and industrial control systems. Its flagship product, ICS CyberVision, gives control engineers comprehensive visibility across their industrial assets. In particular, the platform uses AI algorithms to help teams identify vulnerabilities, detect anomalies in real time and respond to cyber-attacks before they cause harm. Large corporations in the energy, manufacturing and transportation sectors rely on ICS CyberVision every day to protect critical infrastructure.
Silverpeak’s role in the ICS cybersecurity acquisition
Silverpeak first partnered with Sentryo on a fundraising round, helping management develop a long-term strategic growth plan. The goal was to establish Sentryo as the leading ICS cybersecurity specialist in Europe. From there, the plan was to drive expansion into the US market.
When a strategic buyer approached Sentryo, management appointed Silverpeak as lead adviser on the sale. Silverpeak mapped the competitive landscape and identified potential acquirers. The team then contacted each buyer and negotiated the transaction through to completion. In total, Sentryo went from founding to Cisco acquisition in just five years. Cisco — the inventor of the Internet of Everything — represented a landmark exit for financial shareholders and gave the Sentryo team the resources of a global firm to continue their vision.
Throughout the process, Sentryo raised significantly less capital than its startup competitors — in some cases ten times less. Even so, Sentryo delivered a superior outcome. This capital-efficient approach reflects both the strength of the team and the quality of the strategic advice they received along the way.
What the CEO said
Thierry Rouquet, CEO of Sentryo, said: “Silverpeak have been the long-term corporate finance advisers to Sentryo. They helped engineer the previous round of financing based on an ambitious international plan. When Sentryo was approached unexpectedly, Silverpeak were ready to help immediately. They conducted a rapid scan of interested parties before helping us negotiate the deal with Cisco. At many junctures, they helped us convince our shareholders of the considerable potential of Sentryo, resulting in a price which went beyond our expectations.”
Part of a strong track record
This transaction was the fifth deal Silverpeak completed in three months. As a result, it reinforced Silverpeak’s position as a leading technology-specialist investment bank across Europe. Explore our full transaction history to see how we advise technology companies on growth funding and exit strategy, or learn more about our approach to cybersecurity M&A.
For more information, please contact Pietro Strada.