Sonae IM sells Lookwise Device Manager, a software solution to protect critical devices against cybersecurity attacks
Sonae IM has reached an agreement with Auriga, a leading supplier of technological solutions for the omnichannel banking and payments industries, to sell Lookwise Device Manager (LDM), a modular security platform and a business unit of S21sec, the leading European Managed Security Services player.
This operation is aligned with Sonae IM strategy of having an increased focus of S21sec in the Managed Security Services segment, allowing the company to dedicate all resources to its growth plan and reinforcing its position as one of Europe’s and LATAM leading cybersecurity pure players.
LDM is highly regarded in the market. In 2018, LDM won the ATM Cyber Security Excellence Award at ATM Customer Experience & Security Summit. According to the independent judges, LDM won this award because it provides multi-layered protection to block the generation of logical attacks based on malware, achieving significant ubiquity, proactively preparing the ATM industry to help combat the next frontier of crime in financial services.
Seamlessly integrating LDM into Auriga’s WWS software suite will enable customers to benefit from full protection, security monitoring and control over their networks’ business critical devices, such as ATMs, point of sale terminals and critical infrastructure control systems.
Following the acquisition, Auriga will continue to invest in the research and development of LDM to enable improvements, including faster-time to market for deployment. The modularity of LDM complements Auriga’s WWS software and Auriga plans to explore how LDM can be extended to secure different critical infrastructures within an organization, including point of sale systems. S21sec will also cooperate with Auriga to offer cybersecurity consulting services to its clients.
Commenting on the technology acquisition,Vincenzo Fiore, founder and CEO, Auriga said:
“Ever growing targeted attacks on self-service banking infrastructure are hugely disruptive and undermine trust in digital banking services. By making LDM an integral component of our own software portfolio we can significantly build the most effective cyber risk management and security capabilities for our clientsthat protect growth in digital financial services across all channels.”
“By adding in this cutting-edge technology and specialist expertise in ATM cybersecurity, we are re-affirming our strategy of evolving our product portfolio to meet the changing needs of our clients for the best integrated technology platforms,” he added.
Agustin Munoz-Grandez, CEO, S21sec said:
“Our business is focused on cybersecurity and innovations. So, we are delighted that our ATM security technology and business unit will become an integral part of another technology innovator like Auriga. We look forward to supporting Auriga and its clients in making self-service banking safer and even more protected from cyber-attacks in the future.”
Carlos Moreira da Silva, Director at Sonae IM, said:
“We are very pleased with this operation between Auriga and S21sec. Since the investment in S21sec back in 2014, we’ve been supporting the development of technologies and capabilities within the company to address the most emerging and advanced cybersecurity market needs. We’re very glad that Lookwise Device Manager has developed not only as a very strong technology for protecting ATM machines and critical devices, but also as an independent business unit, with strong customer references across the globe, allowing it now to be supported by such a leading supplier in the banking and payments industry as Auriga.”
S21Sec is a cybersecurity pure-player company leading and pioneer in Iberian with a strong presence in Latin America, with a comprehensive and innovative offering of managed services and professional services supported on its proprietary platforms.
Auriga is a leading supplier of software and technological solutions for the banking and payments industries, and a specialist provider of innovative omnichannel solutions to banks and other financial institutions. Its solutions, deployed on over 70% of Italian ATMs, are founded on modern architecture and improve time to market for new services while lowering costs and building long-term competitive advantage. Auriga is a global company delivering retail bank transformation solutions globally.
About Sonae IM
Sonae IM, the technology investment arm of Sonae, invests in cybersecurity, retail and telecommunications technology companies, counting now 33 direct investments, encompassing stakes in companies from early stage to growth stage. Visit https://sonaeim.com/