HQ Equita and Verdane-backed Elovade completed the acquisition of Avangate.

HQ Equita and Verdane-backed Elovade, a value-added software distributor specializing in IT security and cloud services, completed the acquisition of Avangate, a provider of IT cybersecurity solutions. Financial terms were not disclosed. “The acquisition of Avangate is a strategic milestone for our growth strategy on the Italian market. We will be able to offer an even more comprehensive solution portfolio in the future by combining our existing strengths in IT security and IT infrastructure with Avangate’s leading position in the Italian security segment,” Philip Weber, Elovade CEO.