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Photographer: Meg Roussos/Bloomberg

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Haven Cyber Near a Deal for Swedish Cloud Security Firm

Haven Cyber Near a Deal for Swedish Cloud Security Firm

  • Deal is part of Haven Cyber’s strategy to expand in Europe
  • Haven Cyber may acquire more cyber companies this year
Operations Inside The Facebook Data Center

Photographer: Meg Roussos/Bloomberg

Haven Cyber Technologies is nearing an agreement to acquire Onevinn, the Swedish provider of Microsoft cloud security services, as part of a strategy to expand in European cyber security, according to people familiar with the matter.

The acquisition could be announced as early as Thursday, said the people, who asked not to be identified because the talks are private. A transaction value couldn’t be immediately learned.

Haven Cyber, which is headquartered in Luxembourg, counts former Xstrata Plc Chief Executive Officer Mick Davis as a board member. On its website, Haven Cyber describes itself as a “buy-and-build” firm to acquire cyber security companies. The firm is backed by C5 Capital, whose operating companies include ITC Secure.

Last year, U.K. based ITC Secure said it had acquired the G3 Cyber Security practice. Haven Cyber is expected to continue with further acquisitions this year, according to the people familiar with the matter.

Haven Cyber was started by Andre Pienaar, a founder of corporate security and intelligence firm G3 Good Governance Group, which was acquired in 2011 by Kinnevik AB, the Swedish investment firm.