The global risk management and quality assurance provider, DNV, has seized full ownership of the Helsinki-based cyber security services firm, Nixu.
This acquisition came about following a successful public tender offer, which saw DNV secure ownership of over 93% of Nixu’s shares.
The reason behind the acquisition is to enhance societal protection against escalating cyber security threats. DNV’s €98m investment signals a game-changing move in the cyber security sector, leading to the formation of one of Europe’s most rapidly growing cyber security services businesses.
DNV is a renowned player in the fields of risk management and quality assurance, ensuring operational safety and efficiency in multiple industries. On the other hand, Nixu, situated in Helsinki, offers a wide range of cyber security services, specialising in safeguarding IT and industrial control system environments.
Together, DNV and Nixu aim to fortify business resilience across a spectrum of industries, including energy, maritime, telecommunications, and financial services. This merger will unite a formidable team of over 500 cyber security experts, offering a top-tier portfolio of consulting and managed services to handle cyber risks. The collaboration extends to combining their cyber security certification businesses as well.
DNV and Nixu’s union will secure a plethora of IT and industrial control systems, achieving far-reaching impacts than either company could realise independently. The consolidated entity will have the potential to protect over 100,000 customers, their systems, and their supply chains against emerging risks.
Remi Eriksen, Group President and CEO, DNV, said, “In this decade of transformations, fulfilling our purpose of safeguarding life, property, and the environment is no longer restricted to managing risk for physical systems – it must now cover many distributed and interlinked cyber-physical systems. By joining forces with Nixu we will make cyberspace a more secure place with even greater impact than either company could achieve alone. Together, we will shape the future through cyber security, enabling more than 100,000 customers, their systems and their supply chains to manage emerging risks.”
Nixu CEO Teemu Salmi will spearhead the amalgamated cyber security services business. The combined entity will incorporate experts from DNV, Nixu, and Applied Risk – an industrial cyber security specialist acquired by DNV in 2021 – into one business. The joint venture will focus on rapid organic growth, strategic acquisitions, and partnerships on a global scale, operating from various European hubs.
Teemu Salmi, CEO, Nixu, remarked, “This is an exciting time. With more than 500 cyber security professionals and expertise across multiple disciplines, we are creating a leading European cyber security services business. We have the scale to bring even greater value to our customers and be an exceptional place to work for cyber security professionals. DNV and Nixu will not only join forces with each other, we will work in partnership with our customers and the security community at large to drive innovation and industry best practice to ensure business resilience and safeguard society.”
DNV has commenced a subsequent tender offer period, inviting remaining shareholders in Nixu to tender their shares by 16:00 EET on 26 June 2023. The process to acquire all remaining minority shares in Nixu is underway, as per the Finnish Companies Act, before applying to de-list Nixu from the Nasdaq Helsinki Stock Exchange.
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