WINDHOF, LUXEMBOURG – IT services and consulting firm Sword Group has expanded its reach in artificial intelligence (AI) and cybersecurity by acquiring two Scottish companies, Aberdeen Appointments Agency (AAA) and Industrial Automation Cyber Security (IACS).
Strategic AI-driven staffing solutions
In a move to enhance its AI capabilities, Sword Group completed the acquisition of AAA on April 2, 2024.
Following a partial acquisition in June 2023, Aberdeen-based recruitment firm AAA now focuses its services on permanent, contract, and temporary staffing placements across various industries, utilizing AI tools developed by Sword Group.
While AAA currently generates a stable €8 million ($8.7 million) in annual revenue with a 2% EBITDA margin, Sword Group anticipates significant growth potential. By integrating their AI solutions, projections forecast AAA’s EBITDA margin to climb to 9% by 2025 and reach 12% by 2026.
Enhancing industrial cybersecurity
IACS, integrated into Sword Group’s accounts since July 1, brings its expertise in the digital security of industrial process control networks to Sword Group.
With annual revenue of €2.9 million ($3.1 million) and a robust 20% EBITDA margin, Aberdeen-based IACS is expected to maintain a strong 15% yearly organic growth rate under Sword’s ownership.
Sword Group, with a presence in over 50 countries and a team of more than 3,000 IT and digital specialists, is renowned for handling complex IT and business projects. In 2023, the company reported revenues of €288 million ($312 million).
