Priveq takes minority stake in Omegapoint
Priveq has acquired a 40% stake in Swedish IT security company Omegapoint.
The remainder of the company will be held by the management and employees. Following the investment, Omegapoint is aiming to reach sales revenues of SEK 1bn over the next three years, with expansion aimed mainly at its current market.
The deal is the seventh for Priveq Investment V, which closed at the end of 2015 on its hard-cap of SEK 2.3bn and targets Nordic buyouts. Its investments have been diversified across sectors, with current portfolio companies in media, healthcare, publishing, business services and consumer services.
Company
Established in 2001, Omegapoint develops IT security and secure IT systems for sectors such as banking and finance, automotive, healthcare and media. It employs 240 people across its offices in Stockholm, Gothenburg and Malmö. Its 2016 turnover was SEK 325m.
People
Omegapoint – Johan Malmliden (CEO).
Priveq – Henrik Jatko (investment manager).
Advisers
Vendor – Keystone MCF (corporate finance); Nova Law Firm (legal).
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