Cybersecurity Company Nixu Strengthens Leadership in the Swedish Market
Press release on March 18, 2019 at 9 AM EET
Nixu acquires the cybersecurity business of a Swedish security company Vesper Group.
The acquired cybersecurity business unit is focused in hunting and detecting breaches and threats in their clients’ networks as a continuous managed service. This business and client relationships help Nixu to strengthen its market position as one of the largest cybersecurity service providers in the fragmented Swedish market. Nixu has earlier acquired three companies in Sweden since entering the Swedish market in 2016. The acquired cybersecurity operations reported about MEUR 1.6 in revenue in 2018 and are growing fast.
Nixu’s strategic vision is to become the number one choice as a trusted cybersecurity partner of digitalization for companies headquartered in Northern Europe and the best place to work for cybersecurity professionals. Nixu aims at building a strong local market presence in Finland, Sweden and the Netherlands, and constantly explores opportunities to expand into new markets in Northern Europe.
“The European cybersecurity market is fragmented and offers growth potential both organically and via acquisitions. Vesper Group selling its cybersecurity business and starting a partnership with Nixu is a clear sign that the market requires special, dedicated expertise, which is a key competitive advantage of Nixu,” said Nixu CEO Petri Kairinen. “We have been successful in building a stable foundation for growth in Sweden. Vesper Group’s team will bring us more volume and also improve our profitability. The newly acquired team combined with our world-class 24/7 Nixu Cyber Defense Center service, will enable us to provide even better and more extensive services to our clients worldwide for detecting and responding to security breaches and threats.”
Nixu has grown fast with double-digit rates for several years. In 2018, Nixu reported MEUR 40.1 in revenue and the company employs nearly 400 experts worldwide.
The signed acquisition is expected to have a closing by April 1, 2019. The agreement is subject to clients’ approval for the transfer of their agreements to Nixu. Nixu will acquire the business for a cash payment of about MEUR 1.6.
CEO Petri Kairinen, Nixu Corporation
Telephone: +358 40 832 1832, e-mail: email@example.com
Nixu in Brief:
Nixu is a cybersecurity services company on a mission to keep the digital society running. Our passion is to help organizations embrace digitalization securely. Partnering with our clients we provide practical solutions for ensuring business continuity, an easy access to digital services and data protection. We aim to provide the best workplace to our team of nearly 400 cybersecurity professionals with a hands-on attitude. With Nordic roots we serve enterprise clients worldwide. Nixu shares are listed on the Nasdaq Helsinki stock exchange.