IJET acquires U.K.-based risk management provider

“Red24 is well aligned with our growth strategy and service offerings, making this acquisition a great win for iJET and red24’s clients,” said Bruce McIndoe, CEO of iJET International, in a company statement. “Maldwyn Worsley-Tonks’ leadership as CEO helped establish red24 as a leading risk management provider to the insurance market. Maldwyn will continue to be an integral part of the organization going forward.”

According to the company, iJET will leverage red24’s expertise in the insurance market by adding to iJET’s core services: kidnap, ransom and extortion (KRE); product safety and recall; corporate investigations; and background screening. Additionally, clients will be supported by a 24×7 regional integrated operations centre in Africa.  iJET will establish a third iJET Labs Tech Innovation Center in Cape Town, South Africa, expanding on the existing red24 tech centre.

Founded in 1999, iJET is a privately-held company headquartered in Annapolis, Md., with offices in London, U.K., and Singapore.