Summa Equity is acquiring a majority stake in cybersecurity leader Logpoint, investing from its EUR 2.3bn Fund III in European cybersecurity resilience and the protection of the global digital transformation.
STOCKHOLM, Sweden and COPENHAGEN, Denmark, March 02, 2023) today announced the acquisition of a majority stake in Logpoint), the creator of a reliable, innovative cybersecurity operations platform - empowering organisations worldwide to thrive in a world of evolving digital threats. The acquisition builds on Summa's proven track record of incorporating the UN Sustainable Development Goals ("SDGs") framework in shaping the value creation strategy to drive long-term value.
By investing in Logpoint, Summa will address a major global challenge as cybersecurity incidents are estimated to cost the global economy EUR 7.6tn annually in 2023, per Cybersecurity Ventures. The investment directly responds to UN SDG #9 by supporting a resilient infrastructure, and SDG #16 by supporting effective, accountable and transparent institutions and public access to information.
Founded in Denmark and present in 11 locations across Europe, the US, and Asia, Logpoint is the only major European provider of foundational SIEM, UEBA, SOAR, and SAP security technologies converged into a complete platform. Logpoint secures digital transformation and helps organisations of all sizes combat cybersecurity threats, operate reliable IT infrastructures, and provide the essential digital engine for companies to comply with important regulations such as GDPR and NIS2.
The EUR 2.3bn Summa Equity Fund III focuses on thematic investments in Resource Efficiency, Changing Demographics, and Tech-Enabled Transformation. The fund is supported by close to 70 diverse institutional investors.
Summa Equity partner and CIO Christian Melby said:
"By taking a majority stake in Logpoint, we are investing in securing the global tech-enabled transformation, which is vital to reaching most of our sustainable development goals. It is an investment in European cybersecurity resilience, ensuring that the technology to secure digital infrastructures thrives in Europe. Logpoint will serve as the platform for building a European cybersecurity powerhouse, as an alternative to the dominating US vendors."
Logpoint collects security information from the entire digital infrastructure. Information is analysed in real-time employing big data analytics, advanced machine learning, and automation technologies. The platform, available as a SaaS solution and On-Premise, provides situational overview, identifies cybersecurity threats, and provides cybersecurity teams with the tools to respond immediately.
Logpoint CEO Jesper Zerlang, said:
"We are at a historical tipping point where the digital transformation is key to our collective future and prosperity. This foundational transformation is threatened by increasingly aggressive adversaries, organised crime, and state-sponsored actors. The war in Ukraine, the energy crisis, and the Covid-pandemic have made us realise our vulnerabilities, and advanced cyber-technology is a core element in securing the transformation. In partnership with Summa, we will create the strongest European cybersecurity company with global reach, making this technology available to organisations of all sizes."
Following the Summa investment, Yttrium (formerly Digital+ Partners) will remain a significant minority shareholder in Logpoint.
The Summa investment in Logpoint is subject to final regulatory approval, expected in Q2 2023.
More information and photos are available at: www.logpoint.com/media-room
About Logpoint
Logpoint is the creator of a reliable, innovative cybersecurity operations platform - empowering organisations worldwide to thrive in a world of evolving threats. By combining sophisticated technology and a profound understanding of customer challenges, Logpoint bolsters security teams' capabilities while helping them combat current and future threats. Logpoint offers SIEM, UEBA, SOAR and SAP security technologies converged into a complete platform that efficiently detects threats, minimises false positives, autonomously prioritises risks, responds to incidents, and much more. Headquartered in Copenhagen, Denmark, with offices around the world, Logpoint is a multinational, multicultural, and inclusive company. For more information, visit www.logpoint.com
About Summa Equity
Summa invests in companies that are solving global challenges and creating positive Environmental, Social, and Governance
About Yttrium
Based in Frankfurt, Munich and London, Yttrium
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ee2e5183-6ab9-4673-8cfd-27acadb13d96
https://www.globenewswire.com/NewsRoom/AttachmentNg/eb83d212-7629-4955-8778-dd0a21969ba0
https://www.globenewswire.com/NewsRoom/AttachmentNg/8d3d578f-8279-4710-a983-0708e4fe6e7b
