EQT's Sale of Open Systems Marks New Era in Cybersecurity

Author: Henry Turner Updated: 09-18-2024 01:24 PM

EQT's Sale of Open Systems Marks New Era in Cybersecurity

EQT Private Equity, in collaboration with its co-shareholders, has made a significant decision to sell Open Systems, a leading player in network and cyber security, to Swiss Post. This transition highlights EQT's strategic approach to investing and growing technology companies to enhance service offerings in today's rapidly evolving digital landscape.

Transformation Under EQT's Ownership

Since becoming a majority stakeholder in Open Systems in 2017, EQT's influence has been transformative. Originally established as a managed security services provider, Open Systems has successfully evolved into a comprehensive network and cyber security leader. The company has not only doubled its revenues but has also significantly boosted its EBITDA. This growth is supplemented by strategic enhancements to its product portfolio designed to assist businesses with their network transformation and cybersecurity needs.

Innovative Offerings in Cybersecurity

Headquartered in Zurich, Open Systems has pioneered a unified cloud-based platform known as Secure Access Service Edge (SASE). This innovative solution simplifies secure global connectivity and enhances network management. With seamless global support available 24/7, Open Systems has become an essential partner for organizations embarking on their cyber security journeys.

Strategic Acquisitions and Expansion Plans

During EQT’s stewardship, Open Systems has made substantial investments in its technology. The company expanded through three strategic add-on acquisitions, including Sqooba, a Swiss provider specializing in data science, AI, and cloud services. These strategic moves have injected vitality into its offerings, facilitating smoother operations and innovative solutions for its customers.

The Road Ahead with Swiss Post

As Open Systems transitions to Swiss Post, it is set to continue its growth journey under the capable leadership of CEO Daniel Neuhaus. Swiss Post’s acquisition reinforces its position as a potent provider of digital communication services and enhances its competencies to better serve businesses in Switzerland.

Leadership Insights on the Acquisition

Daniel Neuhaus expressed gratitude towards EQT, acknowledging their hands-on approach throughout the growth of Open Systems. He emphasized that this acquisition validates their ongoing strategy to enhance their position in the SASE software realm, and he believes Swiss Post will be a valuable partner in this mission. He noted that their visions align, aiming to foster continual innovation and deliver top-tier technology to customers.

Comments from EQT's Advisory Team

Philipp Woerner, a Director in EQT Private Equity's Advisory Team, remarked on Open Systems' outstanding track record in technological advancements within the cyber security domain. He highlighted that the company's management, spearheaded by Neuhaus, has remarkably positioned Open Systems as a frontrunner in delivering premium technology and services globally.

Nicole Burth, CEO of Swiss Post Communication Services, mentioned that the integration of Open Systems aligns perfectly with their strategy. She noted that this partnership allows them to offer enhanced cybersecurity services, thereby improving efficiency for their Swiss clientele. Open Systems’ unique cloud security solutions will secure and streamline business communications.

Conclusion and Future Expectations

The transaction is expected to finalize subject to customary regulatory approvals in the fourth quarter of 2024. As Open Systems prepares for this new chapter, the market anticipates a surge in innovative solutions under this new partnership with Swiss Post, focusing on securing digital communications and advancing cybersecurity offerings.

Frequently Asked Questions

1. What company is EQT selling to Swiss Post?

EQT is selling Open Systems, a leader in network and cyber security solutions, to Swiss Post.

2. When did EQT acquire Open Systems?

EQT acquired a majority stake in Open Systems in 2017.

3. What is Secure Access Service Edge (SASE)?

SASE is a cloud-based platform that simplifies secure global connectivity and enhances network management.

4. Who is the CEO of Open Systems?

The CEO of Open Systems is Daniel Neuhaus.

5. What will happen after the sale is finalized?

After the sale, Open Systems will continue its growth under Swiss Post and maintain its commitment to providing enhanced cybersecurity solutions.

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EQT's Sale of Open Systems Marks New Era in Cybersecurity