VERISEC International AB welcomes Swedish private equity firm Priveq as a new minority shareholder and partner. The transaction was made through a directed share issue in the Group’s parent company Trustscale AB.
The transaction provides VERISEC with the liquidity and the backing of a strong financial partner to accelerate its growth strategy, centered around offering cryptography as a service, including data protection, strong user authentication and online payments security for its customers.
Growth is expected to come from both organic expansion into new geographic and vertical markets, but also through strategic acquisitions.
“Our company has grown rapidly and profitably the past years and now is the time to set our sights even higher. We aim to offer cryptography, the method used universally to protect online communications, data and identities, as a set of scalable and affordable services, simple to integrate with through our managed APIs. Offering cryptography as a service through intuitive interfaces will allow us to reach customers globally, with a degree of digitalization unique in our marketplace. The partnership with Priveq gives us a strong financial partner to help us finance more aggressive organic growth and several strategic acquisitions”, says Anders Henrikson, CEO Verisec International AB.
“We are impressed by the Verisec team, its service offering and its position as a trusted supplier of cryptographic and authentication services to its customers in different markets. We look forward to supporting the team in the upcoming transition into cloud services and further expansion of its service offering and geographical presence”, says Mats Hjerpe, Partner Priveq
