Pátria enters the cybersecurity sector with an investment of US$ 250 million – 10/05/2021 – Market

A few hours after the world suffered with the general fall of the services of WhatsApp, Facebook and Instagram, the asset manager Pátria Investimentos announced this Monday (4) the acquisition of cybersecurity companies Neosecure and Proteus.

Although the events are not directly related to each other, they show the importance that investment in technological security has gained in the market in recent times.

Pátria did not say how much it invested in the companies, but it released a budget of US$ 250 million (R$ 1.35 billion) for the cybersecurity sector, including the amount invested in the two operations. The manager has approximately US$15.8 billion (R$85.63 billion) in assets, operating in the private equity, infrastructure, real estate and credit sectors.

According to Pátria, the acquisitions create “the largest platform specialized in information security solutions in Latin America, which moves US$7.2 billion (R$39.02 billion) a year in the region.”

“Our goal is to accelerate the consolidation of this market through acquisitions of strategic players and, soon, raise more capital via an initial public offering (IPO) to accelerate growth and perpetuate the company”, said Marcelo Romcy, one of the founders of Proteus and now a partner in the new platform invested in Pátria, in a note.

In January, the asset manager itself had already made its IPO on the Nasdaq Stock Exchange, in the United States, in which approximately US$ 588 million (R$ 3.1 billion) were traded.

The Pátria cybersecurity company was created with an estimated annual turnover of R$ 500 million and a presence in Brazil, Chile, Argentina, Peru and Colombia.

On its website, Proteus informs that it was founded in 1999 and is a “company specializing in risk analysis and executive control”, headquartered in São Paulo and a branch in the United States, where the research and development center is located.

Neosecure was founded in 1999 in Chile and is a “cybersecurity company dedicated to facing threats, protecting the assets and systems of organizations”.

Brazil is fertile ground for cyber attacks

Data from the German consultancy Roland Berger cited by the manager indicate that Brazil is the fifth country in the world that suffers the most from cyber attacks. The country is only behind the United States, United Kingdom, Germany and South Africa in terms of this.

“In this context, the two players have been operating for over 20 years and have a portfolio of innovative ‘end to end’ solutions available to the market, from prevention and detection to the implementation of solutions to remedy hacker attacks,” says the statement from Pátria .

According to the manager’s calculations, around 4 billion events will be analyzed daily through the platform, for approximately 600 clients, including large companies, banks, industries and governments.

“By creating the largest service provider in Latin America dedicated to cybersecurity, we advanced in line with Pátria’s guidelines to act in a transformational manner in strategic sectors that generate a positive impact for companies and people,” said Fernando Pereira, chairman of the board of directors of the new platform, which still does not have a defined name.

In September, Pátria had announced the merger of its operations with the Chilean manager Moneda Asset Management.