The French cyber security company Neverhack acquired a full stake in Security Software OÜ, which operates under the Cybers brand in Estonia.  

This acquisition aims to accelerate the development of Neverhack in the Baltics and the Nordic countries and accelerate the international development of Cybers in Europe.

„Cybers is one of the leading cybersecurity companies in Estonia, recognised as an innovative digital nation. The inclusion of Cybers into our ecosystem accelerates the construction of a safer digital world, particularly in Northern Europe,“ said Arthur Bataille, CEO of Neverhack.

Cybers CEO Jürgen Erm noted that the merger with the Neverhack group is an important milestone for the company. It strengthens their position in the market, creates new opportunities, and adds value for current and future customers.

Erm added that nothing will change in the company’s work; rather, the company will be able to offer even more services thanks to the new owner.

Luck brought two companies together

According to Bataille, Neverhack´s primary goal is solidifying its go-to cyber hub position. The merger will help them accelerate their growth nationally and internationally, develop innovative AI products tailored for cybersecurity and utilised in SOC activities, and facilitate individual skill development in a rapidly expanding sector actively seeking new talents.

Last year, Neverhack, a company that does not mainly focus on the Baltic countries, had a stroke of luck when they met Cybers. The two companies met in Paris at a meeting organised by the Estonian Ministry of Foreign Affairs and the Estonian Embassy in Paris to connect Neverhack to Estonian cyber companies. However, to the surprise of the organisers, only Cybers showed up.

Over 50 people work in Cybers, and over 800 in the Neverhack group in six countries.

The transaction is subject to approval by the Competition Authority before it can be finalized. The cost of the transaction has not been disclosed by either party.

GOOD TO KNOW

• Cybers was founded in 2010.
• The company´s revenue in 2022 was 5,26 million euros; profit 97 500 euros.
• The Tallinn-based company is a key player in the cybersecurity landscape in the Nordic region.
• Cybers offers a wide range of cyber solutions and services on the offensive and defensive aspects, with the implementation and integration of cutting-edge technologies as well as strategic consulting and cyber risk regulations.
• Cyber has more than 50 trusted companies among its clients.
• Cybers has left its mark on the cyber landscape by organising the annual Nordic-Baltic Security Summit event, bringing together more than 500 participants.
• Estonia is a leading state in cybersecurity, strengthened by its advanced digital infrastructure and the NATO Cyber Defense Center of Excellence.

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