F-Secure acquires MWR InfoSecurity for $106M.
F-Secure, a Helsinki, Finland-based cybersecurity provider, announced the acquisition of MWR InfoSecurity, an UK-based security consultancy and research company.
The deal is made is made for £80 million ($106M) in cash to purchase all outstanding shares in MWR InfoSecurity, and includes an earn-out of a maximum of £25M ($33MM) in cash to be paid after 18 months of the completion subject to the achievement of agreed business targets.
The acquisition is a significant milestone in the execution of F-Secure’s growth strategy, and makes it the largest European single source of cyber security services and detection and response solutions. Founded in 1988, F-Secure is listed on the NASDAQ OMX Helsinki Ltd and is led by CEO Samu Konttinen.
MWR InfoSecurity, led by CEO Ian Shaw, is among the largest cyber security service providers serving enterprises globally. The company has close to 400 employees located the UK, the US, South Africa and Singapore.
In 2017, MWR InfoSecurity was breakeven and recorded £27.6 million ($37M)