Monterro has through its second fund Monterro 2 acquired 75% of the Swedish IT-security company Outpost24.
Outpost24 develops and provides vulnerability management technology and services that continuously scan networks and web-applications to identify IT-related vulnerabilities. The frequency of cyber-attacks is increasing steadily and the attacks become more sophisticated. This, in combination with the introduction of the new EU Data Protection Regulation and the risk of financial penalties following data leakages, has contributed to a strong growth for Outpost24, which is the only European supplier providing these types of products and services.
As a result of Monterro becoming the majority owner of Outpost24, Martin Henricson takes over as new President and CEO. Martin has long experience from managing software companies, most recently as CEO of Episerver and Tradedoubler, amongst others. He is replacing founder Carsten Bang Jensen, who will continue to be part of Outpost24’s management team.
“We are very happy Monterro has chosen to invest in Outpost24. The market for our solutions is growing considerably and we are entering a phase of international expansion, and thus it is natural for a new CEO to take over. I feel both happy and excited to hand over to Martin Henricson, who has the right experience and background to take Outpost24 to the next level”, says Carsten Bang Jensen.
“Every day, thousands of companies and organizations are exposed to cyber-attacks. Unfortunately, too many of these succeed which often results in theft of information and different types of sabotage. I am happy and grateful for the opportunity to become CEO of Outpost24, a worldwide leader in solutions and services for identifying vulnerabilities in IT-structures and minimizing the risk for security breaches. I would also like to thank Carsten Bang Jensen for taking the company to its current strong position”, says Martin Henricson, new CEO, Outpost24.
“We have been following Outpost24 for some time now, and become more and more interested in both the products and their technological level, as well as the competence within the company. Outpost24 has a fantastic reputation amongst its customers, both regarding products and service level. Over the last few years the company has experienced significant growth with good profitability. This, in combination with the new EU Data Protection Regulation, makes us believe we have made a very good and timely relevant investment. Outpost24 is fully aligned with Monterro’s investment strategy, and our confidence in the investment is further strengthened through us being able to appoint Martin Henricson as new CEO. In addition to acquiring existing shares, Monterro will make a capital injection to accelerate product development and international expansion”, says Peter Larsson, Managing Partner, Monterro.
For further information, please contact:
Peter Larsson, Managing Partner, tel. +46 (0)8 20 05 56
Monterro is a Stockholm based private equity firm focusing on software and software based services in the Nordic region. The team behind Monterro has unique operational and strategic experience combined with a strong financial background. One third of the capital in Monterro 2 comes from partners. This assures interests are aligned between Monterro, entrepreneurs and external investors.
Outpost24 develops and provides vulnerability management technology and services that simplify the complex security needs of modern businesses. Since 2001, Outpost24 has been pioneering customizable tools and solutions that meet the needs for vulnerability management from small companies to large enterprises through scalable, easy to use solutions. Outpost24 pursue simplicity and usability in all aspects of development without compromising on quality. The company has 102 employees and headquarter in Karlskrona, Sweden, with eight additional offices across Europe and the US, as well as +90 resellers worldwide. Outpost24 secures clients spanning most verticals and business sectors. Today, over 2000 commercial and government clients in more than 40 countries trust Outpost24 to protect their internal and external networks