Net Group, an Estonian business and software development company, has expanded into Germany by acquiring Cloud Ahoi GmbH, a technology company specializing in comprehensive cybersecurity solutions for both private and public sector clients.
“The transaction is significant because on the one hand we are increasing our capabilities in providing cybersecurity services, and on the other hand Germany is Estonia’s largest export market. This gives us a unique opportunity to export valuable knowledge from Estonia to Germany for both the private and public sectors,” stated Priit Kongo, CEO of Net Group.
Founded in 2021, Cloud Ahoi GmbH has grown together with Volkswagen’s software development team and continues to be its strategic cooperation partner.
In addition to business model innovation and software development, Net Group will bring its experience in Estonian public sector solutions to Germany, including state-of-the-art AI-based e-governance solutions such as mobile-based services for citizens and the chatbot Bürokratt.
Net Group will have access to strategic public sector clients and large private companies
Net Group acquired a majority stake from three shareholders. The transaction provides access to strategic public sector clients and large private companies, establishing a strong foundation for future growth.
As part of the acquisition, the current owners of Cloud Ahoi will retain a 30% stake and will continue to actively manage the company. “Merging with Net Group provides new and exciting growth opportunities for the Cloud Ahoi team and a great opportunity to offer even greater value to our customers,” commented Matthias Voss, CEO of Cloud Ahoi.
Net Group operates in several countries including Finland, Sweden, Luxembourg, the UK, and Latvia, and is now expanding its footprint in Germany.
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