DNV, the global risk management and quality assurance provider, has acquired Helsinki-headquartered cyber security services firm Nixu for 98 million euros ($107 million) to create one of Europe’s fastest growing cyber security services businesses.
DNV has now taken ownership of more than 93 per cent of Nixu’s shares and will acquire the remaining shares in Nixu and de-list the company from the Nasdaq Helsinki Stock Exchange.
Together, DNV and Nixu will safeguard demanding IT and industrial control system environments and build business resilience in energy and other sectors.
A combined team of more than 500 cyber security experts will 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.
"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. Together, we will shape the future through cyber security, enabling more than 100,000 customers, their systems, and their supply chains to manage emerging risks," says Remi Eriksen, Group President and CEO, DNV.
The combined cyber security services business will be led by Teemu Salmi, Nixu CEO, bringing together experts from DNV, Nixu and Applied Risk – a DNV-acquired industrial cyber security specialist – into one business. The combined business will operate across Europe from hubs in Norway, Finland, Sweden, Denmark, the Netherlands, Germany, and Romania with focus on rapid organic growth and further strategic acquisitions and partnerships globally.
"This is an exciting time. With more than 500 cyber security professionals and expertise across multiple disciplines, we are creating a leading European cyber security services business. We have the scale to bring even greater value to our customers and be an exceptional place to work for cyber security professionals. 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," says Salmi.
In June 2023, DNV’s Energy Cyber Priority research revealed that less than half (42 per cent) of energy professionals say their organisation is investing enough in cyber security.
The survey of 600 energy professionals also found that 78 per cent believe geopolitical uncertainty has made their organisation more aware of the potential vulnerabilities in their operational technology (OT) as awareness grows about the potential for cyber criminals to cause operational shutdowns and disable safety systems.
