At what enterprise value was TRUESEC GROUP acquired in 2021?

You can find the full valuation details of TRUESEC GROUP 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 14.3x, providing a valuable benchmark for this transaction.

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

The exact EV/EBITDA multiple for TRUESEC GROUP is available on mynth capital. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.3x. Join our community for free to access full valuation data and industry trends.

When was TRUESEC GROUP acquired by IK PARTNERS?

TRUESEC GROUP was acquired by IK PARTNERS in 2021.

What was the revenue of TRUESEC GROUP at the time of the deal?

The revenue of TRUESEC GROUP at the time of the deal is estimated to be in the range of 25M - 50M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of TRUESEC GROUP during the acquisition?

TRUESEC GROUP's EBITDA is estimated to be in the range of 5M - 25M EUR. Join our community for free to access complete and exact deal data.

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 TRUESEC GROUP 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 TRUESEC GROUP 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://ikpartners.com/press-release/ik-partners-to-acquire-truesec/

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Home Database TMT (Tech, Media, Telecom)TRUESEC GROUP

05/2021

TRUESEC GROUP acquired by IK PARTNERS

SWEDEN IT Services / Consulting & Integration / Cybersecurity Services REV 25M - 50M EUR

Context

The IK IX Fund has successfully finalized the acquisition of a majority stake in the share capital of the target from its previous institutional owner, alongside a significant reinvestment from the founding management team. This strategic transaction represents a pivotal step in the organization’s evolution, marking the transition from a regional specialist to an international platform contender. The strategic rationale for the move centers on the acquirer’s objective to capitalize on the structural growth of the cybersecurity market and the target’s unique ability to attract high-tier technical talent in a competitive landscape. The partnership is designed to leverage the acquirer’s extensive European network to develop new service capabilities and professionalize the group’s scalability. This integration facilitates the further development of high-value managed security services and incident response forensics, providing the strategic resources required to navigate the increasing complexity of global cyber threats. The move solidifies the group’s standing as a primary enabler of digital resilience.

TRUESEC GROUP, which reported an EBITDA margin of LOGIN in 2021, 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 (14.3x).

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.

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Truesec is a premier technology organization operating as a leading independent provider of end-to-end cybersecurity solutions. The entity’s business model is centered on a multidisciplinary framework that covers the entire security lifecycle, from proactive defense and threat intelligence to mission-critical incident response and digital forensics. Its value proposition is anchored in technical operational depth, leveraging a high-expertise workforce to prevent and mitigate the impact of sophisticated cyberattacks on society and connected infrastructures. Strategically, the firm focuses on the industrialization of "People-First" security protocols, utilizing a deep understanding of hacker methodologies to build resilient digital ecosystems for large-scale enterprise clients. By maintaining a dominant position in the Nordic market, the organization ensures a vital role in protecting both private and public sector assets from global cyber threats. The entity prioritizes talent acquisition and technical excellence to facilitate the rapid internationalization of its specialized capabilities.

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List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
04/2026	TRUESEC GROUP	SUBSET	SWEDEN	IT Services	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.
06/2025	TRUESEC GROUP	BANSHIE	DENMARK	IT Services	Truesec, a leading Nordic cybersecurity firm backed by private equity sponsor IK Partners, has entered into an agreement to acquire Banshie, a Denmark-based offensive security specialist. The transaction represents a strategic bolt-on acquisition aimed at expanding Truesec's local presence and technical capabilities in the Danish market. MCF Corporate Finance served as the exclusive financial advisor to Truesec throughout the transaction process. The transaction exhibits a compelling strategic rationale driven by the accelerating market shift from reactive to proactive cybersecurity defenses. For Truesec, this acquisition represents a highly value-accretive opportunity to integrate proven offensive security expertise, specifically in penetration testing and red teaming. By leveraging Banshie's specialized local team, Truesec aims to deliver incident response and mitigation times up to 30% to 40% faster than remote providers. This geographic expansion and capability enhancement align perfectly with Truesec’s broader objective of driving sector consolidation across the Nordic region to build a comprehensive, full-service security platform. This transaction acts as a strong market signal underscoring the increasing premium placed on specialized offensive security assets.

REFERENCES

Revenue range: 25M - 50M EUR

EBITDA range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of TRUESEC GROUP by IK PARTNERS are reserved for mynth community members. Register for free to unlock full data.

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

Target: truesec group

Acquirer: ik partners