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Incide is bought by Computest Security with advice from Baker Tilly


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Integral service around a transaction
BY : Paul von KesselJuly Wed, 2023

In july 2023, the acquisition of the majority stake in Incide by the dutch company Computest was closed. Baker Tilly Corporate Finance advised the Computest team on this transaction.

With the purchase of Incide, Computest takes the first step in creating an independent European security company with the goal of having a presence in the fastest growing European markets within thress years.  

In addition to strengthening our capabilities and expertise in the field of incident response, we were looking for an organisation that would fit with our culture, where our people and our customers are the absolute core. With Incide we have found such a company.

Hartger Ruijs, CEO of Computest Security EU

Thanks to their complementary expertise, Computest Security and Incide can now support customers in Europe and beyond with any security issue, be it operational or strategic, technical or non-technical issues. The collaboration also offers the opportunity to take Sector 7's advanced research into vulnerabilities and new threats to an even higher level.

Incide Digital acquires by Computest

Target: Incide

Incide was founded in 2005 and is based in Barcelona. They’re a reference in cybersecurity specially in the protection of the information of their clients. The organization is composed of a reactive area of incident management, digital investigations, forensic laboratory, computer experts and a preventive area, based on audits, Red Team exercises, improvement of detection systems and training.

Incide's team of digital forensic experts and incident response experts work with customers on a daily basis to address complex security incidents and limit their impact. There is also a great deal of in-house knowledge about current threat actors, which, combined with advanced adversary simulation and endpoint protection services, enables Incide to provide its clients with the most effective security measures. Among these clients are banking institutions and other organizations listed at the Spanish stock index, IBEX35.

We are delighted to be part of Computest Security and to build together a strong European security organisation. As the security market continues to consolidate and customers increasingly operate on an international scale, it is important to have sufficient clout. Joining forces with Computest Security creates a strong synergy with which we can address a wider market and from which our customers and employees will benefit.

Abraham Pasamar, CEO and founder of Incide

Investor: Computest Security

Founded in 2005 and based in Zoetermeer (Netherlands), Computest Security Security is a cybersecurity specialist who has grown to a leading player in the field of Cyber Security and software testing in the Netherlands with over 300 clients in the last years. Since 2021 they are backed up by Mentha Capital. The strength and expertise of Computest lies in the field of prevention and detection.

Their specialists provide services like pentesting and managed detection and response. Computest has also a strong reputation for research into vulnerabilities with its research unit Sector 7. High quality of work, fun, and personal growth are in the core of Computest so a lot of room is offered for personal development, research (for example the hack of Zoom), and investment in an optimal company culture.

Incide shares our vision on promoting security, has a similar organisational culture and has built a strong track record since its founding in 2005. Together, we want to continue to expand our organisation and also for other ambitious security companies with the same mindset and passion to join us in continuing our growth within Europe.

Hartger Ruijs, CEO of Computest Security EU

Baker Tilly Corporate Finance:

Baker Tilly has advised Computest in the negotiations with the management team of Incide. Diego Gutiérrez, a partner specialising in the technology sector, led the team. Baker Tilly Corporate Finance has a team specialising in Baker Tilly Corporate Finance has a team specialised in Mergers and Acquisitions and has consistently ranked in the Top 10 in the global M&A market.

Baker Tilly International's corporate finance services include advising on cross-border transactions for clients doing business in multiple locations. Baker Tilly's network spans more than 145 territories, with over 41,000 people working in more than 700 offices.

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