Nixu pays for $6M for the Danish cybersecurity company Ezenta, starts local operations in Denmark.

Denmark Finland M&A 28 March 2019
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Nixu, an Espoo, Finland-based cybersecurity company, announced that it acquired the Danish cybersecurity company Ezenta.

With this acquisition, Nixu achieves a significant foothold in the Danish cybersecurity market and expands its service scope.

The transaction was made for 100% of Ezenta's shares and will be made for a fixed cash settlement of EUR 5.25M ($5.9M) and a directed share issue of 84,950 Nixu shares. In addition, there will be an earn-out part of the payment, up to MEUR 2, to be paid in the beginning of year 2020 based on 2019 profitability targets.

The Ezenta founders and team will join Nixu’s team with Ezenta’s CEO Niels Kemal Onat nominated as Nixu Denmark Market Area Leader.

Ezenta, founded in 2000 and based in Copenhagen, is specialized in technology based cybersecurity services and in 2018 had revenues of EUR 8.8M ($9.9M).