Lincoln-based cyber security provider Cyberlab Consulting has been sold to technology provider Chess for an undisclosed sum. The deal will “supercharge” Cyberlab’s expansion, and add a unique new product to Chess’ suite of products and services.
The acquisition will see Chess add Cyberlab’s cyber-security-as-a-service (CSaaS) portal as a new service to clients. The portal simplifies the process of spotting security oversights, identifying blind spots and provides tailored programs to automate fixes.
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Cyberlad founder Ryan Bradbury has joined Chess’s team as part of the deal, taking on the role of chief technology office.
He said: “We’re delighted to be adding something new, which fits perfectly into Chess’ existing incredible portfolio. There is huge potential for our portal and the backing of such a big player like Chess will help us to meet our ambitions for the Cyberlab brand.”
Chess employs more than 300 people across the UK and supports more than 1,000 blue-chip UK businesses – including household names – as well as government departments. Its expanded capabilities now cover a range of services including testing, assessment, discovery, consultancy and delivery.
Michael Squirrell, a partner at Shakespeare Martineau, advised founders Ryan and Jessica Bradbury on the sale of Cyberlab.
He said: “There are clear synergies between the businesses and obvious wins from their union. We’re very happy to have supported Ryan and Jessica on the sale.”
The Shakespeare Martineau team involved in the deal also included corporate associate Ashley Taylor, corporate solicitor Nana Maisuradze, intellectual property partner Kerry Russell, and employment expert Oscar Ciaurro.
Antony Voakes and Amy Weston at Wright Vigar advised on tax and financial matters. Chess was represented by Nimbus Legal and Vector Tax Consultancy.
