Swedish cyber security leader Nixu has acquired part of the cyber security business of Vesper Group. It has paid €1.6 million for the cyber threat intelligence team. Interestingly, this is the same sum that Nixu says the unit reported in revenue in 2018. This is the third acquisition that the company has made in the last few years. It strengthens Nixu’s position as it seeks to become the leading cyber security provider in Sweden.
Petri Kairinen, CEO, Nixu said: “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.
“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.”
Enterprise Times: What does this mean
Nixu makes no bones about its goal to be the leading cyber security choice for businesses in Northern Europe. It is growing fast and in 2018 has a turnover of €40.1 million. Taking on the big companies in this space and region won’t be easy despite that growth. It will have to deal with well established and larger competitors.
Acquisitions are a good start. They give it access to highly qualified staff who are scarce in the region. However, it will need to expand the services it offers or carve out its own unique niche in the market. With this acquisition, it is focusing on cyber threat intelligence. That includes both threat hunting and breach detection. The question is what does it look to acquire next?
