Cybersecurity: Orange covets a part of Risk&Co

Cybersecurity is definitely a highly coveted field by telecom operators. Far from the narrow margins and fierce competition that govern their historical businesses, “cyber” constitutes a welcome growth relay. Their BtoB divisions such as SFR Business and Bouygues Telecom Entreprises have made it a privileged axis of development. The latest, Free Pro intends to “disrupt” this very lucrative market by recently launching a turnkey offer.

The number one in the sector, Orange also displays strong ambitions for its dedicated entity. After crossing the billion euros in revenue in 2022, Orange Cyberdefense sets itself the goal of becoming “a leader in Europe” and aims for a turnover of 1.3 billion euros by 2025.

During the presentation of the annual results, the subsidiary, chaired since April by Hugues Foulon (X, ENSTA), announced that it will strengthen itself on the small and medium-sized business market. It also intends to pursue its external growth strategy. After completing, in November, two acquisitions in Switzerland, Orange Cyberdefense could thus seize part of Risk&Co according to Les Echos.

“Strategic contracts for the State and large groups”

Created in 1994, Risk&Co presents itself as a Security and Defense Services Company (ESSD) specialized in the professions of personal and infrastructure security, risk management and cybersecurity.

Based in Levallois-Perret, the company boasts 200 employees with agencies in Lyon and Rennes and subsidiaries in Dubai, Nigeria and South Africa. Sanofi, SNCF, Société Générale, Sodexo or TotalEnergies are among its customer references. Lacking liquidity, it was bought, in 2019, by a competing ESSD, Anticip.

That obviously wasn’t enough. Appointed CEO in the Spring, Philippe Demigné (co-founder of Bertin Technologies) could not straighten the bar. Burdened by debts, Risk&Co was placed in reorganization by the commercial court of Nanterre at the end of August. Since then, the judicial administrator has reportedly received several offers of partial takeover.

Orange Cyberdefense has reportedly submitted an offer to take over its cyber and engineering activities. “If the entire cluster weighs only about fifteen million euros in turnover, it includes strategic contracts for the State and large groups that are very vigilant about the future of Risk&Co, as well as the profile and strength of the buyer,” says Les Echos. A good point for Orange.

Sale by cutting

According to Letter A, however, the incumbent operator would not be alone in the ranks. Foliateam has also reportedly submitted an offer on the same scope. Bulimic of acquisitions – 18 since its creation in 1971 – this alternative telecom operator recently bought a division of Scopelec, a company also placed in bankruptcy following the loss of its main customer, namely…. Orange.

Two other potential buyers would only be interested in the cyber activity of Risk&Co. It would be the ESN HeadMind Partners and ChapsVision, a French publisher specialized in data analysis. Finally, Scutum Security First and Amaran would covet the international and security activity of the company.