DNV is to fully acquire Helsinki-headquartered cyber security services firm Nixu following a public tender offer which resulted in DNV taking ownership of more than 93% of Nixu’s shares.
DNV will combine its cyber security businesses with Nixu following a process to acquire the remaining shares in Nixu and de-list the company from the Nasdaq Helsinki Stock Exchange. The €98 million deal will create ‘one of Europe’s fastest growing cyber security services businesses’. Together, DNV and Nixu believe they will be able to safeguard demanding IT and industrial control system environments and build business resilience in energy and other sectors. A combined team of more than 500 cyber security experts will provide a market-leading portfolio of consulting and managed services to manage cyber risks. The two companies will also combine their cyber security certification businesses.
“In this decade of transformations, fulfilling our purpose of safeguarding life, property, and the environment is no longer restricted to managing risk for physical systems – it must now cover many distributed and interlinked cyber-physical systems. By joining forces with Nixu we will make cyberspace a more secure place with even greater impact than either company could achieve alone. Together, we will shape the future through cyber security, enabling more than 100 000 customers, their systems, and their supply chains to manage emerging risks,” said Remi Eriksen, Group president and CEO of DNV.
DNV has begun a subsequent tender offer period, inviting holders of remaining shares in Nixu to tender their shares by 16:00 EET on 26 June 2023. DNV has initiated the process to acquire all remaining minority shares in Nixu in accordance with the Finnish Companies Act, before applying to de-list Nixu from the Nasdaq Helsinki Stock Exchange.
In June 2023, DNV’s Energy Cyber Priority research revealed that less than half (42%) of energy professionals say their organisation is investing enough in cyber security. The survey of 600 energy professionals also found that 78% believe geopolitical uncertainty has made their organisation more aware of the potential vulnerabilities in their operational technology (OT) as awareness grows about the potential for cyber criminals to cause operational shutdowns and disable safety systems.