London, UK | 30th March 2023: Obrela Corporation, the leading UK-based cyber security provider, announced today the successful completion of the Encode acquisition that was realized in the beginning of 2022. Greece based, Encode was a security analytics and response orchestration provider. In 2023 the companies’ logos merge to become Obrela Corporation denoting the evolving era for the organization using one brand and developing to a leading Cyber Security provider across EMEA.
The cyber security market is exponentially expanding. Gartner reports that the managed security services grew by 9.8% in 2021, reaching $13.9 billion in revenue. Managed Detection and Response is a high-growth segment within MSS that grew by 48.9% in 2021. These developments add greater value to Obrela’s stakeholders’ expectations.
Obrela has successfully delivered MDR and Cyber Risk Management in real-time for over a decade across international organisations. The acknowledged expertise and noteworthy customer base of both companies combined form the largest Cyber Security Service Provider in the region and one of the largest MDR players globally. During 2022, the company outperformed by reaching 34% employee increase and 35% revenue growth in all of its core services.
“Our acquisition of Encode is an important milestone for Obrela and we are excited about the opportunities it brings to our customers, employees and investors. Detecting and responding to cyber threats is an overwhelming challenge for organisations, today, as most do not have the time, resources or skills to manage the task internally. This has spurred a significant shift towards the security services market where organisations are relying on experts in the field of MDR to protect their critical assets from cyberattacks. Through this acquisition we are significantly growing our footprint in the MDR marketplace, enabling us to reach even more customers, while enhancing our solutions and offering to our customers with even more resources to help them meet their evolving security needs. We are now more capable and dedicated than ever to excel in our mission to KEEP OUR CLIENT’s BUSINESS IN BUSINESS. Based on this foundation, under a single brand in 2023 we can now go further, we can grow more” states George Patsis, President and CEO of the Obrela Corporation.
George Daglas, Chief of Strategy and Customer Success states: “The new brand denotes the flexibility, visibility and intelligence needed to holistically provide an “umbrella” of end-to-end security services under which clients can rest assured and focused on their business. The company is developing with the support of employees, customers and shareholders to deliver innovative services and pioneering approach in the cybersecurity space meeting the evolving digital transformation.”
A new era for the Cyber Security landscape starts to emerge as cybersecurity is moving towards a universal business protection of emerging threats which integrate into process workflow environments and Obrela is evidently better able to accommodate these challenges with great success
