Mubasher: Bahrain-based Investcorp on Wednesday announced the sale of its cybersecurity unit, SecureLink Group, to global telecoms group Orange in consideration of EUR 515 million ($576.14 million).

Investcorp has added a great value to SecureLink since its acquisition in December 2015, expanding its operations in Scandinavia, the UK, Germany, and China, according to a company statement.

“The cybersecurity industry has seen great demand over the past few years, driven by an increasingly digital world…SecureLink stills hold a promising future and we wish them the best of luck,” Co-CEO of Investcorp Hazem Ben Gacem said.

The transaction was advised by Jefferies, KPMG, Stibbe, and Travelers companies.

SecureLink’s CEO Thomas Fetten commented: “The successful combination of SecureLink and Investcorp’s resource and expertise has created a European market leader which today, safely enables the business of our valued customer base.”