Finnish endpoint security company F-Secure has announced its purchase of MWR InfoSecurity for an £80 million (approx $106M) cash payment, with an additional £25 million (approx $33M) to be paid after 18 months if certain business targets are met.
The deal, which is expected to close late this July, will make F-Secure the largest European single source of cybersecurity services and detection and response solutions.
“The acquisition brings MWR InfoSecurity’s industry-renowned technologies to F-Secure making our detection and response offering unrivaled,” said F-Secure CEO Samu Konttinen. “Their threat hunting platform (Countercept) is one of the most advanced in the market and is an excellent complement to our existing technologies,”
The acquisition brings MWR InfoSecurity’s industry-renowned technologies to F-Secure making our detection and response offering unrivaled.
– Samu Konttinen, CEO, F-Secure
Konttinen went on to say: “I’m thrilled to welcome MWR InfoSecurity’s employees to F-Secure. With their vast experience and hundreds of experts performing cyber security services on four continents, we will have unparalleled visibility into real-life cyber attacks 24/7. This enables us to detect indicators across an incredible breadth of attacks so we can protect our customers effectively. As most companies currently lack these capabilities, this represents a significant opportunity to accelerate F-Secure’s growth.”
Following this news, shares in the company rose by 4%, according to Reuters.
“We’ve always relied on research-driven innovations executed by the best people and technology. This approach has earned MWR InfoSecurity the trust of some of the largest organizations in the world,” said CEO of MWR InfoSecurity Ian Shaw, who will join F-Secure’s Leadership Team after the transaction closes. “We see this approach thriving at F-Secure, and we look forward to working together so that we can break new ground in the cyber security industry.”