DNV, a global risk management and quality assurance provider, has fully acquired Helsinki-headquartered cyber security services firm Nixu following a public tender offer.
DNV plans to combine its cyber security businesses with Nixu following a process to acquire the remaining shares in Nixu and de-list the company from the Nasdaq Helsinki Stock Exchange.
This comes six months after DNV confirmed its ShipManager software was victim to a cyber-attack.
The €98 million ($107 million) deal will create one of Europe’s fastest growing cyber security services businesses.
Together, DNV and Nixu aim to provide safeguard demanding IT and industrial control system environments, which would build business resilience in the maritime industry.
A combined team of more than 500 cyber security experts will reportedly provide a market-leading portfolio of consulting and managed services to manage cyber risks.
The two companies will also combine their cyber security certification businesses.
Remi Eriksen, Group President and CEO, DNV, said: “In this decade of transformations, fulfilling our purpose of safeguarding life, property, and the environment is no longer restricted to managing risk for physical systems – it must now cover many distributed and interlinked cyber-physical systems.
“By joining forces with Nixu we will make cyberspace a more secure place with even greater impact than either company could achieve alone.”
Nixu CEO, Teemu Salmi, will lead the combined cyber security services business, bringing together experts from DNV, Nixu and Applied Risk into one business.
The combined business will operate across Europe from hubs in Norway, Finland, Sweden, Denmark, the Netherlands, Germany, and Romania focusing on rapid organic growth and further strategic acquisitions.
Salmi stated: “With more than 500 cyber security professionals and expertise across multiple disciplines, we are creating a leading European cyber security services business.
“DNV and Nixu will not only join forces with each other, we will work in partnership with our customers and the security community at large to drive innovation and industry best practice to ensure business resilience and safeguard society.”
Additionally, DNV has begun a subsequent tender offer period, inviting holders of remaining shares in Nixu to tender their shares by 26 June.