News & Views
Summa Equity invests in Logpoint
A new European cybersecurity powerhouse is created as Summa Equity (www.summaequity.com) acquires a majority stake in cybersecurity leader Logpoint (www.logpoint.com).
The acquisition builds on Summa’s proven track record of incorporating the UN Sustainable Development Goals (SDGs) framework in shaping the value creation strategy to drive long-term value. The investment directly responds to UN SDG Number 9 by supporting a resilient infrastructure, and SDG Number 16 by supporting effective, accountable and transparent institutions and public access to information.
“Cybersecurity incidents are estimated to cost the global economy EUR 7.6 trillion this year. By taking a majority stake in Logpoint, we are investing in securing the global tech-enabled transformation, which is vital to reaching most of our sustainable development goals. It is an investment in European cybersecurity resilience, ensuring that the technology to secure digital infrastructures thrives in Europe,” says Christian Melby, CIO, Summa Equity. “Logpoint will serve as the platform for building a European cybersecurity powerhouse, as an alternative to the dominating US vendors.”
“We are at a historical tipping point where digital transformation is key to our collective future and prosperity,” adds Jesper Zerlang, CEO, Logpoint. “This foundational transformation is threatened by increasingly aggressive adversaries, organized crime, and state-sponsored actors. The war in Ukraine, the energy crisis, and the Covid-pandemic have made us realize our vulnerabilities, and advanced cyber-technology is a core element in securing the transformation. In partnership with Summa, we will create the strongest European cybersecurity company with global reach, making this technology available to organizations of all sizes.”
Supported by close to 70 diverse institutional investors, the EUR 2.3 billion Summa Equity Fund III focuses on thematic investments in Resource Efficiency, Changing Demographics, and Tech-Enabled Transformation.
Following the Summa investment, Yttrium (formerly Digital+ Partners) will remain a significant minority shareholder in Logpoint.
The Summa investment in Logpoint is subject to final regulatory approval, expected in Q2 2023.