WithSecure Corporation, Stock Exchange Release, 31 May 2025 at 9:45 EEST
WithSecure has completed the transaction of Cyber security consulting divestment to Neqst
WithSecure announced on 23 January 2025 its intention to divest the cyber security consulting business to Neqst, Swedish investment company.
On 31 May 2025, the parties completed the transaction in accordance with the sale and purchase agreement. EUR 13.5 million, corresponding to 60 % of the agreed enterprise value of EUR 22.5 million, deducted by the transferring net assets of the business, is paid in cash by the buyer. The remaining 40 % is variable purchase price, based on the performance of the business in 2025 and 2026, and it becomes payable in two installments in the beginning of 2026 and 2027.
All closing conditions of the transaction have been fulfilled.
With the transaction, approximately 230 employees located in Finland, UK, Sweden, Denmark, Singapore, Italy, and US will transfer to the buyer.
"I wish our former colleagues and their new company the best of luck in the future. As for WithSecure, the consulting divestment allows us to fully focus on our Elements strategy of becoming the flagship of European cybersecurity", states Antti Koskela, President and CEO of WithSecure.
Contact information:
Laura Viita
VP, Controlling, investor relations and sustainability
WithSecure Corporation
+358 50 487 1044
investor-relations@withsecure.com
