Ekinops completes the acquisition of Olfeo and becomes a network cybersecurity player

PARIS, June 2, 2025 /PRNewswire/ -- EKINOPS (Euronext Paris: FR0011466069) (Euronext Paris: EKI), leading supplier of telecommunications solutions for telecom operators and enterprises, announces the completion of the acquisition of 100% of the share capital of Olfeo, a French provider of SSE (Security Service Edge) cybersecurity software. The transaction, which was subject to customary closing conditions, was announced in a press release on May 15, 2025^[1].

This combination creates a leading European player in the network cybersecurity market, in the fast-growing segments of SSE (Security Service Edge) and SASE (Secure Access Service Edge), bringing French expertise to the European and global stage.

Final terms of the transaction

On 30 May 2025, Ekinops acquired 100% of Olfeo's share capital through its holding company, Oscar SAS, from its founding shareholders, financial investors and employee shareholders.

This acquisition was fully financed in cash, using Ekinops' own funds and the syndicated credit line dedicated to external growth, provided by its banking partners.

Olfeo's management team is fully committed to this merger. In this context, Alexandre Souillé, founder and CEO of Olfeo, along with his team, will continue to develop the cybersecurity activity within Ekinops.

Olfeo is consolidated in Ekinops' accounts from 1 June 2025.

Olfeo, a French leader in SSE and enterprise web security

Founded in 2003 and based in Paris, Olfeo is a cybersecurity software company that protects enterprise information systems from cyberattacks and risks related to employee Internet usage. Olfeo's web security gateway solutions are offered through a subscription model, either as SaaS (Software as a Service) or on-premises.

Olfeo is one of the leading European players in SSE and offers a web security solution that combines multiple layers of security (SWG, CASB, DNS, DLP, etc.)^[2] to protect enterprise information systems.

With a team of 60 employees, half of whom are dedicated to R&D, Olfeo secures network and web access of over 500 customers and partners (businesses, local authorities, healthcare institutions, French governmental service and infrastructure operators, etc.).

Olfeo generated €6.3m in recurring revenue (ARR - Annual Recurring Revenue) in 2024, with an EBITDA^[3] margin of over 20%.

Ekinops becomes a European market leader in Secure Access Service Edge (SASE)

The convergence of network connectivity and cybersecurity challenges is at the heart of today's digital transformation for businesses.

Operators are very much on the look for single-vendor network cybersecurity solutions that are sovereign, immediately available, and combining performance, security, ease of deployment and regulatory compliance.

The SASE for networks cybersecurity market is estimated at over $9bn by 2025, with an average annual growth rate of +13% over the next few years^[4].

By 2026, Ekinops aims to position itself in the "Unified SASE" segment, with a fully integrated solution specifically designed for mid-sized companies (SMB and SME). Ekinops intends to address this segment by leveraging its installed customer base with major telecom operators. The "Unified SASE" market is estimated to exceed $600m by 2025, with an average annual growth rate of over +27% over the next few years.

Together, Ekinops and Olfeo will be able to meet the growing needs of public and private organizations for secure cloud access and agile network infrastructures, offering a high-performing and responsible European technology.

For more information, refer to the press release dated 15 May 2025:
Ekinops announces the acquisition of Olfeo, a cybersecurity software provider for businesses

EKINOPS Contact
Didier Brédy, Chairman and CEO
contact@ekinops.com

Investors
Mathieu Omnes, Investor relation
Tel.: +33 (0)1 53 67 36 92
momnes@actus.fr

Press
Amaury Dugast, Press relation
Tel.: +33 (0)1 53 67 36 74
adugast@actus.fr 

^[1] Press release dated 15 May 2025: Ekinops announces the acquisition of Olfeo, a cybersecurity software provider for businesses
^[2] SWG: Secure Web Gateway
CASB: Cloud Access Security Broker
DNS: Domain Name System
DLP: Data Loss Prevention
^[3] EBITDA (Earnings before interest, taxes, depreciation, and amortization) corresponds to current operating income restated for (i) amortization, depreciation and provisions and (ii) income and expenses linked to share-based payments.
^[4] Source: Dell'Oro Group

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SOURCE Ekinops