Commitment to proprietary solutions sharply increases Secutec revenue

September 15, 2023

For a few years now, Secutec has been focusing on its in-house developed cyber security and Threat Intelligence services. An approach which is paying off: in the past fiscal year, consolidated revenues increased from 18 million euros to 25 million euros. Secutec will be looking for an external investor to grow the services even further outside of Belgium.

• Consolidated sales increased year-on-year from 18 to 25 million euros.
• In addition, profit before tax also increased from 2.6 to 3.4 million euros in Belgium.
• Demand for in-house services rises sharply: in the first two months of the fiscal year, demand rose 43%.
• Secutec is looking for a new investor to further grow the story beyond Belgium. The goal is to become a European leading player and also – in addition to organic growth – to take a first important step with a buy-and-build strategy through a strategic acquisition in the next 6 months.

Since its founding in 2005, Secutec has become an authority in cyber security. Today, the company is strengthening that position by developing and expanding its own solutions, in combination with third-party products. This strategy is paying off: “We started out as a partner for various players in the cybersecurity landscape,” says Geert Baudewijns, CEO of Secutec, “so we know like no other the challenges companies and organizations are facing today. We know what works and what doesn’t, and where there is room for improvement. The gaps that are left today, we secure.”

Secutec has therefore recently been betting on self-developed cybersecurity solutions that perfectly complement existing infrastructure, together with strategic partners. This makes it easier for organizations to engage in complete security, preventive cybersecurity and incident response.

Grow further with additional investments and partners

For the distribution of the new solutions, Secutec relies on direct and indirect channels. “Because we offer solutions and services that are necessary for every company, it is a logical choice to commit to a broad approach,” says Baudewijns. “We are already working with some strong partners in Europe that support our growth and in the future we will be able to announce many more great names in Germany, Austria and Italy.”

Indeed, Secutec aspires to strong further growth over the coming years. To achieve that, the company will soon be looking for a new investor. Baudewijns: “We believe in our own services. In order to expand these outside Belgium, we are looking for a strategic partner to support us in the further expansion of Secutec SecureDNS and Secutec SecureSIGHT.”

Innovative unburdening for end customers

“The potential is there, we are already experiencing that today with our partners,” Baudewijns knows. “Our innovations, bundled with various solutions in a managed services model, allow us to integrate state-of-the-art technologies with our end customers without them having to find and maintain these services themselves.”

“I have been in charge of (security) vendor management for 15 years at various companies, from system integrators to distribution,” says Willem Magerman, CFO of Dilaco and Secutec solutions partner. “But I have never seen a Belgian security system integrator transforming itself into a security vendor. This unique step offers many advantages in our cooperation, where we from Dilaco are particularly interested in the local, European security data that Secutec has, which international players often lack. As a result, together with Secutec, we can offer our customers even better protection.”

Complete protection

Secutec is already deploying four of its own solutions today:

• Secutec SecureDNS: This solution adds a necessary layer of security to the organization’s security setup. Outbound DNS requests are tested against the Secutec cyber threat intelligence database fed by thousands of leading sources. Malicious domains are automatically blocked so that viruses, ransomware, phishing attacks,… never have a chance to trigger a dangerous payload. This way, users are always safe.
• Secutec SecureSIGHT: This solution takes care of the complete Threat Intelligence of organizations. Proactively, it periodically maps vulnerable systems and monitors the Darknet for credential leakage, among other things. Reactively, Secutec SecureSIGHT adds best-in-class XDR to an organization’s security setup, supported by its own Security Operations Center that performs 24/7/365 monitoring for customers and partners.
• Secutec SecureRESPONSE: This service guarantees the very best follow-up and support in case of a cyber incident. From the Secutec Security Operations Center, customers are assisted by cyber experts who stop ongoing attacks and outline a recovery plan. On the basis of extensive forensic analysis, they determine where the attack came from, what damage was caused and what data were possibly stolen.
• Secutec SecureCARE: Organizations that opt for the SecureCARE package are guaranteed assistance within four hours in the event of a cyber incident. Thus, customers always enjoy priority within SecureRESPONSE’s services.

“In the future, we will expand our product and service portfolio even further, based on the needs in the market,” Baudewijns says. “After all, for us the needs of our customers are always at the center; we don’t sell them anything they don’t need.”