BGF invests €10.5m in Edgescan

This is the fourth investment that BGF has made in an Irish business in the past 18 months.

The fresh capital will be used for a number of purposes, including to accelerate Edgescan's international expansion and to expedite new product development.

Former senior IBM executive Bernie Waldron has joined the board of Edgescan as independent non-executive chairman. Waldron is also investing in the business alongside BGF.

Leo Casey, who heads BGF's operations in Ireland, will also join the board, with Maedhbh O'Driscoll of BGF joining as a board observer.

This is the first external investment the company has received to date.

Company
Edgescan was set up in Dublin in 2011 and now employs 57 people. The company provides continuous cybersecurity intelligence, assessment and services to both national and international companies.

Advisers
Equity – Maples (legal); PwC (financial due diligence, tax).
Company – Hogan & Associates (financial due diligence); Philip Lee (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• Ireland
• BGF (Business Growth Fund)
• PwC