Phoenix is delighted to announce the sale of Logiq, a leading UK-based cyber security specialist to defence, government and Critical National Infrastructure, to IBM. The terms of the transaction are undisclosed.
Phoenix partnered with Logiq’s founding team, led by CEO James Morgan, in June 2023 to help the business scale within its core defence markets, and grow into wider UK Government and Critical National Infrastructure. With Phoenix’s support, Logiq added depth to its senior leadership team and developed its go-to-market function which has delivered significant growth.
The business has broadened its end-market presence and expanded its DISX platform, a proprietary secure collaboration solution, while retaining the founder-led, people-first culture that first attracted Phoenix to the business.
IBM will provide Logiq with access to their broad client base across UK Public and Regulated sectors as well as hybrid cloud and data expertise. The acquisition will support Logiq’s next phase of growth and strengthen its ability to protect defence, government and high-security organisations where assurance and resilience are essential.
James Morgan, CEO of Logiq, said:
“Phoenix understood the Logiq approach and core values from our first meeting, backing us to invest in our people, our platform and our culture without compromise. With IBM, we are moving forward with an exceptional partner who shares our ambition to enhance national security; together we will be able to tackle, and solve, some of the UK’s most complex cyber security challenges. We’re excited for the next chapter of enabling and enhancing UK resilience.”
Tim Dunn, Senior Partner at Phoenix, said:
“James and the entire Logiq team have been fantastic partners since 2023, building one of the most respected cyber security businesses in the UK defence sector while never losing sight of the people and culture that made Logiq special. We’re proud to have supported that journey. We wish James, the team and IBM every success as Logiq enters its next phase of growth.”
