Axon Technologies and Keyrus Announce Strategic Partnership to Elevate Cybersecurity Business

Keyrus Acquires Minority Stake in Axon Technologies, adding Axon's Cybersecurity Portfolio to Keyrus Solutions, and Expanding Keyrus Reach across Middle East and Africa

PARIS and DUBAI, UAE, Feb. 27, 2024 /PRNewswire/ -- In a significant development in the cybersecurity sector, Keyrus, an international leader in data intelligence and digital transformation, has announced the acquisition of a minority stake in Axon Technologies, a premier provider of cybersecurity services based in Dubai, UAE. This strategic investment marks a major milestone in Keyrus' cybersecurity strategy, signalling an ambitious step towards establishing a global cybersecurity powerhouse.

Strategic Expansion and Enhanced Cybersecurity Solutions

The collaboration between Keyrus and Axon Technologies is set to revolutionize the cybersecurity landscape in the Middle East and Africa, particularly with Keyrus' entry into the lucrative Saudi Arabian market. This move enables Keyrus to pursue its investment in a newly formed cybersecurity business, offering enhanced data security solutions to both existing and new clients.

Eric Cohen, Founder and CEO of Keyrus, expressed his enthusiasm: "This investment in Axon Technologies marks a significant step in our cybersecurity strategy. We're embarking on an exciting journey to amplify our cybersecurity capabilities and establish a world-class global player in this domain. Axon Technologies' innovative approach to consulting and managed services aligns perfectly with our vision and culture. We eagerly anticipate integrating Axon into our ecosystem to bolster our cybersecurity solutions and address the digital security challenges of our clients."

Hadi Hosn, CEO of Axon Technologies, also shared his thoughts: "This partnership marks a new era for Axon Technologies, propelling us further in our mission to protect organizations from cyber threats. We admire the Keyrus vision and believe that our combined strengths will lead to disruptive data and cybersecurity solutions, addressing critical challenges in digital identity, application security, API, and data security across various environments and industries."

Hadi Darwiche, Chairman of DIV Capital & Co-founder of Axon Technologies: "It's gratifying to see Axon Technologies grow from a concept into a key player in the cybersecurity field. With Keyrus joining forces with us, we anticipate a period of sustained growth, leveraging our combined experience and established reputations. We are confident that together, Axon Technologies will continue to extend its market presence and deliver top-tier solutions."

Comprehensive Cybersecurity Portfolio and Global Reach

In a relatively short period, Axon Technologies, founded in 2020, has emerged as a beacon of excellence and innovation in the cybersecurity field, demonstrating remarkable growth and agility in its operations. With a revenue of $3.2 million USD in 2023 and a projected substantial increase of the activities, it represents a testament to its robust business model, exceptional service delivery, and the trust clients place in Axon Technologies. The team made of 30 dedicated professionals is its most valuable asset. Axon Technologies commits to growing its team, fostering a culture of innovation, collaboration, and continuous learning.

Axon Technologies, renowned for its expertise in cybersecurity, will now be able to leverage Keyrus global presence and capabilities. With headquarters in Dubai and a significant footprint in the Middle East, Europe and Africa, Axon Technologies is well-positioned to monitor threats and support client cybersecurity programs across these regions effectively. With the backing of Keyrus's global network, Axon Technologies is poised for unprecedented growth and are dedicated to setting new standards in the cybersecurity landscape.

The partnership is also expected to enhance the offerings of both companies. Axon Technologies' expertise in Data Security, Cloud Security, DevSecOps and Managed Security Services aligns seamlessly with the Keyrus strategic objectives in digital, data, AI and cloud transformation initiatives.

About Axon Technologies

Axon Technologies offers comprehensive cybersecurity services including consulting, managed security services, engineering, and testing. The company is a leader in addressing critical infrastructure customers' cybersecurity needs, from strategic consulting to hands-on management and technical security engineering support and managed security services, ensuring a robust and comprehensive approach to cybersecurity. The company's service portfolio includes:

• Technical Security Consulting & Advisory: Guidance and expertise for technical cybersecurity programs.
• Advanced Security Testing: Rigorous cybersecurity testing across the environment to identify and address vulnerabilities.
• Security Engineering & Architecture: Designing and implementing robust security architectures across on-premises and cloud environments.
• Managed Security Services: Ongoing management and support of cybersecurity operations. 

About Keyrus

Keyrus, an international player in the consulting and technology sectors and a specialist in data and digital technology, is dedicated to helping enterprises take advantage of the data and digital paradigm to enhance their performance, facilitate and accelerate their transformation, and generate new drivers of growth and competitiveness.

Placing innovation at the heart of its strategy, Keyrus develops a value proposition that is unique in the market and centred around five major service groups, each comprised of multiple solutions:

• Automation and Artificial Intelligence
• Human-Centric Digital Experience
• Data and Analytics enablement
• Cloud and Security
• Business transformation and Innovation

Building on the combined expertise of more than 3,500 employees active across 27 countries and 4 continents, Keyrus is one of the leading international experts in data, consulting and technology.

Keyrus is listed on Euronext Growth Paris. 
(ALKEY – ISIN Code: FR0004029411 – Reuters: KEYR.PA – Bloomberg: ALKEY: FP).

About DIV Capital

DIV Capital, originally starting as a family office, now operating as a strategic investment holding firm, specializing in bespoke advisory services. The firm focuses on fortifying family capital through comprehensive offerings that encompass support for early-stage enterprises, strategic asset allocation, and robust governance infrastructure development. The firm operates out of Geneva and Dubai and provides three core services:

• Family Asset Support: Tailored support to construct an asset allocation that meets wealth goals.
• Family Financial Sponsorship: Reinforcement for family-operated businesses, aimed at fostering enduring value creation.
• Governance and Reporting: Consultation on governance frameworks and the enhancement of reporting standards for comprehensive asset oversight.

Forward Looking Statements

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Axon Technologies, Keyrus or DIV Capital do not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will the companies and the affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.

Contact: contact-keyrus@keyrus.com

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