ADD-ON
Frankfurt am Main/Miami, 13 March 2023 – Cygna Labs, a highly specialized software developer focused on network, compliance and cloud security solutions, has entered into a definitive agreement to acquire VitalQIP, a global DDI software provider from Nokia Solutions & Network Oy (“Nokia”). Cygna Labs will be supported by Frankfurt-based private equity company VR Equitypartner (VREP), which holds a minority stake in the company. The acquisition comprises Nokia’s VitalQIP product, related intellectual property as well as its customers and associated personnel.
Cygna Labs is a leading software developer in the fields of network, cloud and security and one of the top three global DDI vendors. Many Fortune 100 customers rely on Cygna Labs’ DDI products and services, in addition to its industry-leading security and compliance solutions, to detect and proactively mitigate data security threats, pass compliance audits, and increase the productivity of their IT departments.
Cygna Labs’ will ensure VitalQIP customers not only receive extensive ongoing maintenance and support services, including global 24×7 support but will also be able to take advantage of Cygna Labs’ expertise and innovation. The product will remain a standalone product line and has already been incorporated into Cygna Labs’ portfolio of managed service offerings.
Alexander Häcker, CEO of Cygna Labs Group, notes: “Cygna Labs continues to support large-scale enterprise customers that rely on our DDI products and services. This acquisition will expand our offering to include VitalQIP’s industry-proven open and scalable DDI solutions and will be offered side-by-side with our existing DDI offerings.”
“Adding Nokia’s leading DDI product enhances our intellectual property and will place Cygna Labs in the number two market share position”, adds Christian Ehrenthal, CEO of Cygna Labs. “From a business perspective, this acquisition enhances the Cygna Labs product portfolio, brings additional Fortune 100 companies to our client roster, and increases opportunities for Cygna Labs to expand our combined global market presence.”
Christian Futterlieb, Managing Director of VR Equitypartner, notes: “Following the acquisitions of the Diamond IP software solution from British Telecom and the DDI business unit of NCC Group last year, the VitalQIP add-on marks the third important growth step for Cygna Labs within a very short time. We are delighted to be able to support the company in this endeavour.”
VR Equitypartner’s transaction team:
Michael Vogt, Sarah Ostermann, Jens Schöffel, Alexander Koch
Consultancy firms that VR Equitypartner has involved in the transaction:
M&A:
goetzpartners Corporate Finance (Adelin Trusculescu, Frieder Rieker)
Legal:
Hogan Lovells International LLP (Dr. Christoph Naumann, Spenser Karr, Meryl Bernstein)
Finance:
Grant Thornton (Harald Weiß, Karmen Krvina)
Tax:
Grant Thornton (Stefan Hahn, Torben Schlitt)
Commercial:
BARC (Dr. Martin Böhn, Michael Schiklang)
