WithSecure Finalizes Strategic Cybersecurity Consulting Sale

Author: Evelyn Baker Updated: 05-31-2025 03:00 AM

WithSecure Completes Cybersecurity Consulting Divestment

WithSecure Corporation has successfully finalized the transaction involving the divestment of its cybersecurity consulting business to Neqst, a Swedish investment firm. This strategic move enhances WithSecure's focus on its primary objectives in the cybersecurity market.

Transaction Overview

Initially announced on January 23, the agreement outlines a substantial deal. The total agreed enterprise value for the transaction stands at EUR 22.5 million. Out of this, EUR 13.5 million has been paid in cash by the buyer, representing 60% of the value after deducting net assets related to the business being transferred.

Payment Structure and Performance-Based Future Earnings

The remaining 40% of the purchase price is contingent upon the performance of the business over the years 2025 and 2026. This remaining amount will be settled in two installments at the beginning of 2026 and 2027, ensuring that the buyer's investment aligns with the business's future success.

Employee Transition

As part of the transaction, approximately 230 employees based across several countries, including Finland, the UK, Sweden, Denmark, Singapore, Italy, and the US, will transition to Neqst. This move is expected to provide a fresh opportunity for these employees while enabling WithSecure to concentrate on its core strategic elements.

Leadership Comments

Antti Koskela, President and CEO of WithSecure, expressed his well wishes for the employees moving to Neqst. He emphasized that this divestment allows WithSecure to streamline its efforts towards becoming a leading player in the European cybersecurity landscape, reinforcing their Elements strategy.

Looking Ahead

With this transaction completed, WithSecure is well-positioned to focus solely on enhancing its cybersecurity solutions and offerings. The company aims to leverage this divestment to further innovate and improve its services, solidifying its presence in a competitive market. The future looks promising as they aim to evolve and adapt to the ever-changing cybersecurity needs of clients.

Contact Information

For further inquiries regarding this strategic move, contact Laura Viita, VP of Controlling, Investor Relations, and Sustainability at WithSecure Corporation. She can be reached at +358 50 487 1044 or via email at investor-relations@withsecure.com.

Frequently Asked Questions

What type of business has WithSecure divested?

WithSecure has completed the divestment of its cybersecurity consulting business to Neqst.

What is the total value of the transaction?

The total agreed enterprise value of the transaction is EUR 22.5 million.

How many employees are affected by the divestment?

Approximately 230 employees will transition to Neqst as part of the transaction.

What will WithSecure focus on after the divestment?

WithSecure aims to concentrate on its Elements strategy and strengthen its position in the European cybersecurity market.

Who can be contacted for more information about the sale?

Inquiries can be directed to Laura Viita, VP of Controlling at WithSecure Corporation.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

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