Squad
A French IT and cybersecurity group (~EUR 135M revenue target) adding strategic GRC and IAM consulting through its June 2026 acquisition of Lovell Consulting.
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Groupe Squad, based in Sophia Antipolis, France and targeting roughly EUR 135 million in revenue in 2026, is a French IT and cybersecurity group building full-spectrum cyber capability across managed services, industrial security, and strategic governance, risk, compliance, resilience, and identity consulting through successive complementary acquisitions.
Its June 2, 2026 acquisition of Lovell Consulting, a profitable firm with EUR 4.2 million in revenue, is its third cybersecurity deal after Newlode and Scassi and adds strategic-consulting capability in pursuit of a clear European-leadership strategy.
Innovation Matrix Assessment
Building full-spectrum cyber capability through a deliberate sequence of complementary acquisitions (three in cybersecurity to date).
Lovell Consulting brings real, revenue-generating GRC/IAM strategic consulting capability to Squad's existing managed-services base.
Third cybersecurity acquisition (Lovell Consulting), announced June 2, 2026, as part of a stated European-leadership growth strategy.
A conventional French IT/cybersecurity group consolidation, not a category disruptor.
Lovell Consulting's independently-reported profitable revenue (4.2M EUR, 38 employees) is a real operational signal.
Combined managed services, industrial security, and strategic GRC/IAM consulting addresses a broad and durable enterprise need.
Why CISOs Should Care
Groupe Squad, targeting ~135M EUR revenue in 2026, gives French enterprise CISOs strategic cyber consulting (governance, risk, compliance, resilience, IAM) via its acquisition of Lovell Consulting, its third cybersecurity deal after Newlode and Scassi.
What Makes It Different
Deliberately building full-spectrum cyber capability across managed services, industrial security, and now strategic GRC/IAM consulting through successive, complementary acquisitions rather than a single business line.
The Matrix Verdict
40/100 — EMERGING / UNRANKED
A scaled (~135M EUR revenue) French IT/cybersecurity group pursuing a clear European-leadership strategy; Lovell Consulting acquisition (June 2, 2026) adds real, profitable (4.2M EUR revenue) strategic-consulting capability.
Editorial Note: Claims vs. Verified Findings
Revenue figures for both Squad (135M EUR budgeted 2026) and Lovell Consulting (4.2M EUR, 2025) are independently reported across multiple French trade outlets (Le Journal des Entreprises, CFNEWS, ESN News).
Sources
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