Dave Sandberg
Partner
Lars Stenvold Wik
Sell-side
Technology
Technology Advisory Services
Watchcom, a leader in IT security services, faces significant operational costs associated with its premium security portfolio. To sustain growth, Stratema suggested that the company seek a financially robust partner. Combitech, with its formidable reputation and organisational stability, was proposed as a prime candidate by Stratema. This partnership aligns with Combitech’s strategic goals of expanding its presence in Norway and enhancing its security offerings, with the prospect of synergies in both objectives and resources.
Combitech, an independent subsidiary of the Saab defence and security group, has become majority shareholder of Norwegian company Watchcom Security Group AS, following its acquisition of 51.11% of the Watchcom shares. The agreement includes an option to acquire the remainder of the shares within the next two years. Watchcom is a Norwegian provider of cyber security consultancy services. The company is based in Oslo and has 28 employees. Watchcom is also the driving force behind Paranoia, one of the largest security events in the Nordics, attracting more than 1,000 participants and attendees.
“I see significant opportunities for Watchcom with Combitech as its majority owner. This will strengthen our presence in the Nordic market, and boost the continued development of our services. Furthermore, it enables us to further support our customers by drawing on Combitech’s expertise.”
Fred Habberstad, CEO of Watchcom.
“This acquisition is fully aligned with our strategy of growing in the Nordics and strengthening our position as a cyber security market leader. Watchcom is a reputable provider with impressive credentials in areas such as security surveillance, security consciousness, security testing and training. Together, we will be a significant Nordic player with a holistic cyber security service offering. Furthermore, we will improve our services for large private and public sector customers on a pan-Nordic level. We look forward to introducing Sweden to Paranoia, and to continue developing the concept alongside Watchcom.”
Hans Torin, CEO of Combitech.
Watchcom Security Group is a cybersecurity services and solutions provider. The company works with a wide range of industries on all aspects of information security.
Combitech is a Swedish security company, which is owned by the Saab defence and security group. Combitech provides services in security consulting, penetration testing (authorised simulated cyberattack) and cloud-based monitoring and response.
