Neverhack buys Estonian cybersecurity firm Cybers
This is the second external growth operation of the cybersecurity consulting firm (formerly Proph3cy) since its 100-million-euro fundraising round.
On April 30, 2024, Antoine Bataille, CEO and founder of the Neverhack cyber-consulting firm, announced the acquisition of Estonian cybersecurity company Cybers. In July 2023, Neverhack, which was still called Proph3cy, raised 100 million euros. On this occasion, the US investment fund Carlyle became the majority shareholder of the French company, which was then renamed Neverhack.
Part of the funds raised was intended to support the company’s external growth. In February 2024, Neverhack finalized a first buyout, of Expert Lines, a French specialist in rolling out secure infrastructure.
Cybers is thus the second acquisition in the campaign, and the first abroad. According to Antoine Bataille, the operation, part of a “global outlook on investing in the international market,” will allow Neverhack “to grow [its] expertise in regard to SOC, offensive and defensive security, as well as strategy consulting.”
Created in 2010 in Tallinn, Cybers has around 50 customers, mostly located in Estonia. “Its cutting-edge expertise in Estonian private and public sectors, as well as its wide range of cyber solutions, makes it a strategic partner in strengthening our presence on the Nordic and Baltic markets,” argues Antoine Bataille.
