At what enterprise value was SUBSET acquired in 2026?

You can find the full valuation details of SUBSET on mynth capital. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of SUBSET when it was acquired by TRUESEC GROUP?

The exact EV/EBITDA multiple for SUBSET is available on mynth capital. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was SUBSET acquired by TRUESEC GROUP?

SUBSET was acquired by TRUESEC GROUP in 2026.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the SUBSET acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the SUBSET deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.truesec.com/news/truesec-group-acquires-subset

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Home Database TMT (Tech, Media, Telecom)SUBSET

04/2026

SUBSET acquired by TRUESEC GROUP

SWEDEN IT Services / Consulting & Integration / Cybersecurity Services REV 1m EUR - 100m EUR

Context

The international cybersecurity leader has successfully finalized the acquisition of 100% of the share capital of the target, a specialist in high-assurance software development. This strategic transaction represents a definitive move to incorporate "provably secure" engineering capabilities into the group’s broader service portfolio, targeting the rapidly growing European defense and critical infrastructure markets. The strategic rationale for the move centers on the acquirer’s objective to address the increasing demand for verified software integrity driven by geopolitical instability and increased NATO defense spending. The operation is designed to leverage the target’s unique expertise in cryptography to serve government and public sector organizations entering a long-term investment phase. This integration facilitates the scaling of specialized technical talent, providing the strategic depth required to build resilient sovereign technology platforms. The move solidifies the group’s standing as a primary enabler of cyber resilience across Europe.

SUBSET, which reported an EBITDA margin of LOGIN in 2026, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Subset is a highly specialized technology organization dedicated to cybersecurity and the engineering of provably secure software systems. The entity’s business model is centered on a multidisciplinary framework that ensures security requirements are independently verified and certified, catering specifically to sectors with extreme reliability needs. Its value proposition is anchored in technical operational depth within advanced cryptography and high-assurance system engineering. Strategically, the firm focuses on the "security-by-design" paradigm, integrating robust protection protocols from the initial development phase of critical information systems. By maintaining a niche expertise in sovereign defense and national security applications, the organization ensures a mission-critical role in protecting essential infrastructure. The entity prioritizes technical precision and long-term sustainable technology to facilitate the structural resilience of government and public sector digital assets.

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2025

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REFERENCES

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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: truesec group