Clearwater International advises SecureDevice on its sale to Swiss IT Security Group

Clearwater International has advised SecureDevice A/S (SecureDevice), an IT security solutions provider, on its sale to Swiss IT Security Group (SITS), a leading pan-European IT security company.

Founded in 2004, SecureDevice is a Danish IT security company that provides market-leading cyber security solutions to blue-chip enterprise customers, also successfully addressing the SMB market, across Denmark and Scandinavia. Through its security-as-a-service business model, Easycurity solution, SecureDevice enables companies of all sizes to access enterprise-scale cyber security solutions. Offerings by SecureDevice include among others, penetration testing, SIEM, phishing defence, IDS/IPS, monitoring, emergency response, and general SOC operations.

With over 600 employees across nine companies in Germany, the Netherlands, Belgium, Austria, and Switzerland, SITS offers secure hosting, identity and access management, managed secure workspace, anti-virus, and emergency response amongst other services.

Both companies see a strong cultural and operational fit with solid synergies from cross-selling and offering customers an even stronger cyber security solution.

„We were in dialogue with several M&A advisers after deciding on selling and Clearwater International excelled, engaged and professional with a high level of tech knowledge and perception of our business – and not the least, with its super likeable team. On the other side of the sale, the team steered us through a streamlined process, having informed and involved us at the right times and when they had to put more values at stake than we were aware of ourselves from the start. You should not sell your business yourself; instead choose the right adviser to support you, it is not merely the price that reaches a whole new level but also the positioning toward a broad range of potential buyers. We are very pleased with the strategic partner we now have in Swiss IT Security Group – you can call it the perfect marriage, where we get a sea of new possibilities while Swiss IT Security Group gets our Security-as-a-Service that complements them perfectly.“ – Michael Albek, CEO and co-owner, SecureDevice

„Digital development and an increased threat scenario have put cybercrime and information security extremely high on the agenda for many companies. Thus, the market for IT security solutions continues its strong growth. At the same time, the continued lack of IT security boosts the need for automated security solutions. Hence the actors that have automated security solutions constitute very attractive targets or consolidation possibilities for larger companies. The sale of SecureDevice to Swiss IT Security Group is a good example of a transaction where the value of the business, after a sale, is simply larger and therefore attractive to many interested buyers.“ – Andreas Lauth Lauridsen, Partner, Clearwater International