(Photo courtesy of the Cordish Companies)
In a deal that was recently finalized, Baltimore-based enterprise mobility company PaRaBaL was acquired by global service provider ISEC7.
With the deal, Hamburg, Germany–based ISEC7 is continuing to grow its presence at offices within the same downtown building above Power Plant LIVE! that houses Spark Baltimore, where PaRaBaL was the initial tenant in 2015.
Founded in 2009 by Peter Coddington, PaRaBaL works with government clients and corporations to enable employees to use mobile devices including iPhone and Android phones for work.
Along with providing the applications with the functionality and UI that would allow the functions to be carried out on a phone, securing the data involved is also a big focus, Coddington said.
The company grew a client base at levels of government including state, local and federal, as well as private sector companies in banking, health, financial and utilities, Coddington said. The company didn’t take outside funding, and was growing around 50 percent each year.
ISEC7 is in a similar space but is a larger company with a global presence, and the acquisition allows the company to obtain a deeper foothold in the U.S. market. When the deal was initially announced, ISEC7 said bringing in PaRaBaL doubles the size of its North American presence.
“The combination of our expertise with PaRaBaL’s knowledge of the US market will further increase our federal footprint and strengthen our global reach and market presence in the US,” Michael Brandt, CEO of ISEC7 Group, said in a statement.
Terms of the deal were not disclosed. Coddington called it a “successful acquisition for all parties involved,” and said he is remaining with the company during the integration.
Coddington began the business in Howard County before moving to the building above Power Plant LIVE! in 2015, just prior to the unrest that followed Freddie Gray’s funeral. Other companies soon followed and Spark Baltimore opened on the floor below. The coworking space has expanded since, and the building is now a hub for startups and small businesses.
“We’ve seen it from the very beginning to where it is, and it didn’t take long,” he said.
The office now has a team of 11 people, with three more relocating. ISEC7 is also continuing to hire, said Arthur Tang, managing director of ISEC7 Americas. To Coddington, the area’s talent base is a strength.
“Baltimore is a great place to recruit IT talent,” Coddington said.-30-
Vixiar Medical raises $1.5M, reports progress on heart failure monitoring device
BurnAlong raises $1.5M, moves to new offices in Pikesville
3 things we learned mapping Baltimore’s startup ecosystem
At 14 West, only go-getters need apply
Hanover’s Dragos looks to grow with a Houston office and an Atlanta acquisition
Where Baltimore factored into that ’60 Minutes’ feature on Rise of the Rest
Allovue acquires Rockville-based edfintech startup Equiday
Learn to lead digital transformation at Phorum 2019
Sign-up for daily news updates from Technical.ly Baltimore