Combitech AB acquires majority stake in Watchcom AS

The technology consultancy firm Combitech has reached an agreement to acquire a majority stake in the Norwegian cyber security company, Watchcom.

Through this acquisition, Combitech will strengthen its position as a forerunner in the Cyber Security sector in the Nordic region and will expand its operations in Norway.

Combitech, an independent subsidiary of the defence and security group Saab, has become majority shareholder in the Norwegian company, Watchcom Security Group AS, thanks to the acquisition of 51.11 % of the company’s shares. An option to acquire the remainder of the shares during the coming two years is included in the agreement. Watchcom is a Norwegian supplier of consultancy services within Cyber Security. The company is based in Oslo and has 28 employees. Watchcom is also the driving force behind Paranoia, one of the Nordic region’s largest security events, attracting hundreds of participants and attendees.

Stratema advised Watchcom throughout the process.

Press release from Combitech