Phoenix Equity Partners sells UK cybersecurity firm Logiq to IBM
IBM•IBM agreed to acquire UK cybersecurity specialist Logiq, while Phoenix Equity Partners will exit its investment; transaction terms were not disclosed.
1. Acquisition terms
IBM agreed to acquire Logiq, which serves defense, government and Critical National Infrastructure customers. Phoenix Equity Partners, which backed Logiq in June 2023, is exiting its investment through the sale; financial terms were not disclosed.
2. Platform and expansion
Logiq’s DISX secure collaboration platform is expected to scale using IBM’s UK public-sector client base and hybrid cloud capabilities.
