On May 29, the Estonian Competition Authority approved the agreement to acquire a 100% stake in Security Software OÜ (CYBERS) by the French-registered cybersecurity group NEVERHACK SAS.
As a result of the transaction, the Estonian cybersecurity company CYBERS will be integrated into Europe’s leading group of cybersecurity companies – the NEVERHACK group.
Over its 14 years of operation, CYBERS has become one of Estonia’s largest cybersecurity firms, with over 50 employees and an annual turnover of nearly 10 million euros. CYBERS offers comprehensive cybersecurity solutions, serving clients in both the private and public sectors by mapping and preventing cyber threats and responding to incidents.
CYBERS CEO Jürgen Erm stated, “Joining the NEVERHACK group is a significant milestone for us. This step strengthens our market position, creates new opportunities, and adds value for our current and future clients.” All current CYBERS executives will remain in their positions, and as of now, the company will continue to operate under the same brand. “Our home market remains a priority: we see ample growth opportunities in Estonia and the Nordic markets, but the transaction will undoubtedly expand our international reach,” added Erm.
NEVERHACK CEO Arthur Bataille commented, “CYBERS is one of the leading cybersecurity companies in Estonia, a country known for its innovative digital landscape. Integrating CYBERS into our ecosystem enhances our efforts to create a safer digital world, especially in Northern Europe. Our mission is to create a safer digital world, and we are thrilled to incorporate CYBERS’ expertise into our service offerings.”
NEVERHACK is a French group specializing in cybersecurity for over 40 years, assisting companies and individuals in data protection with unique consulting, training, cyber risk assessment, and AI innovation services. Founded in 2021, the group operates in seven countries (France, Belgium, Germany, Canada, Singapore, United Arab Emirates, and Estonia). It now has over 800 employees, with plans to expand to four more countries by the end of 2024.
Keystone Advisers and the law firm Eversheds Sutherland Estonia advised the transaction.
