DNV will fully acquire Helsinki-headquartered cyber security services firm Nixu. The global risk management and quality assurance provider takes ownership of more than 93% of shares in Nixu following a public tender offer, DNV said earlier today.

DNV will acquire all remaining Nixu shares before delisting Nixu from the Nasdaq Helsinki Stock Exchange, valuing the deal at 98 million euros. This deal will create one of Europe’s fastest growing cyber security services businesses.

This strategic move will see the two companies combine their cyber security certification businesses into a team of more than 500 cyber security experts. The experts will provide a market portfolio of consulting and managed services to manage cyber risks.

Nixu CEO Teemu Salmi will lead the combined cyber security services business, bringing together experts from DNV, Nixu and Applied Risk, an industrial cyber security specialist acquired by DNV in 2021 – into one business.

The combined business will operate across Europe from hubs in Norway, Finland, Sweden, Denmark, the Netherlands, Germany, and Romania with focus on rapid organic growth and further strategic acquisitions and partnerships globally.

”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” said Remi Eriksen, Group President and CEO of DNV.

”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,” Eriksen added.

It’s worth mentioning that 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.