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Nixu expands security footprint with Ezenta acquisition

Finnish cybersecurity services company Nixu Corporation has entered the Denmark market by acquiring Ezenta. Nixu’s vision is to become a “go-to-partner” in cybersecurity services for companies headquartered in Northern Europe.

The strategy includes the opening of multiple front-end locations in Northern Europe near clients, which enables the MSSP to offer its holistic portfolio services locally.

The transaction is expected to be completed by the beginning of April 2019. As a purchase price, Nixu will pay €5.25m in cash plus 84,950 Nixu shares to the sellers. Based on profit targets being met, a further €2m may be paid to the sellers at the beginning of 2020.

Nasdaq Helsinki-listed Nixu will finance the acquisition with cash, its own shares and raising a new €2.5m bank loan.

In 2018, Ezenta’s revenue was €8.8m, profitably growing about 23% compared to the previous fiscal year. The Ezenta founders and team will join Nixu, with Ezenta’s CEO Niels Kemal Onat becoming Nixu Denmark market area leader.

“Our aim is to expand near our clients in Northern Europe. Earlier established footholds in Sweden and the Netherlands are stabilising and growing nicely. Ezenta is a natural next step to continue on our growth journey,” said Nixu CEO Petri Kairinen (pictured).

Ezenta’s expertise in intrusion detection and investigation will be combined with the Nixu Cyber Defense Center service.