Sword Group expands AI and cybersecurity with Scottish firm acquisitions
WINDHOF, LUXEMBOURG — Data insights and digital transformation provider Sword Group has announced the acquisition of two Scottish companies, Aberdeen Appointments Agency (AAA) and Industrial Automation Cyber Security (IACS).
These acquisitions mark a significant step in Sword Group’s strategic expansion into artificial intelligence (AI) and cybersecurity.
Strategic expansion into AI-driven staffing solutions
AAA, partially sold in June 2023, has recently restructured its offerings around AI using tools developed by Sword.
The company, based in Aberdeen, specializes in permanent, contract, and temporary staffing across various industries. It currently generates annual revenue of €8 million ($8.7 million) with a 2% EBITDA margin. Sword Group completed its acquisition on April 2, 2024.
Sword Group anticipates significant growth, projecting an increase in AAA’s EBITDA margin to 9% by 2025 and 12% by 2026, leveraging Sword’s AI products.
Enhancing industrial cybersecurity capabilities
Industrial Automation Cyber Security (IACS), also based in Aberdeen, is a micro-company specializing in the digital security of industrial process control networks.
IACS’s expertise spans all sectors covered by Sword to date in terms of cybersecurity.
With an annual revenue of €2.9 million ($3.1 million) and an impressive 20% EBITDA margin, IACS is expected to maintain a strong 15% yearly organic growth rate under Sword’s ownership.
IACS has been integrated into Sword Group’s accounts since July 1, 2024.
Strengthening Sword Group’s market position
Jacques Mottard, CEO of Sword Group, commented on the acquisitions: “These two acquisitions will boost our expansion in the fields of artificial intelligence and cyber security.”
Sword Group, which operates in over 50 countries and employs more than 3,000 IT and digital specialists, has built a solid reputation for managing complex IT and business projects.
The company reported revenues of €288 million ($312 million) in 2023, highlighting its significant market presence.
Further financial details of the acquisitions have not been disclosed. However, the integration of these Scottish firms is expected to position Sword to meet growing demand across various sectors, reinforcing its role as a key player in the global technology services market.
