Phoenix Equity Partners has announced the sale of Logiq, a UK cybersecurity specialist serving defense, government and critical national infrastructure, to IBM. Phoenix partnered with Logiq’s founding team, led by CEO James Morgan, in June 2023. The aim was to help the business scale in its core defense markets and grow into wider UK government and critical national infrastructure work.

With Phoenix’s support, Logiq added depth to its senior leadership team and developed its go-to-market function, which the company says has delivered significant growth. During Phoenix’s ownership, Logiq broadened its end-market presence and expanded DISX, its proprietary secure collaboration platform. IBM is acquiring Logiq for undisclosed terms.

It will give Logiq access to its broad client base across the UK public and regulated sectors, as well as its hybrid cloud and data expertise. The deal is intended to support Logiq’s next phase of growth and strengthen its ability to protect defense, government and high-security organizations. Tim Dunn, senior partner at Phoenix, said in a statement that the Logiq team had built “one of the most respected cyber security businesses in the UK defence sector.”.