Excerpt from our non-proprietary historical coverage
January 23, 2025

Finland-based Withsecure (publ.) divests its cyber security consulting business to Neqst for EUR 22.5m

Press Release
Finnish cybersecurity company WithSecure has signed an agreement to sell its cyber security consulting business to Swedish investment firm Neqst for a total enterprise value of EUR 22.5m. The divestment, which aligns with Withsecure's strategic review announced in October 2023, involves the transfer of approximately 250 employees across multiple countries, including Finland, UK, and the US. The deal includes a cash payment of 60% of the purchase price upon completion, with the remaining 40% contingent on the business's performance in 2025 and 2026. This strategic divestment allows WithSecure to focus on its core operations while Neqst expands its portfolio in the cyber security sector. The deal is expected to be completed in Q2-2025, subject to customary closing conditions and regulatory approvals. Carnegie Investment Bank acted as financial advisor to WithSecure in connection with the transaction. Following WithSecure's annonucement of a strategic review in October 2023, NKP | M&A Ins
Transaction announcement
What's next in this sector?
NKP | M&A Insights tracks 1,800+ M&A opportunities across Northern Europe — from emerging situations to live and paused processes — the majority of which are non-public and not covered by conventional M&A news channels.
Request Trial Access
Opportunity originally surfaced by NKP | M&A Insights as:
December 6, 2023

WithSecure (publ.), a Finnish provider of cyber security software solutions, has engaged Carnegie to advise on the strategic review and possible carve-out(s) of its cyber security consulting and Cloud Protection for Salesforce businesses, acc. to sources (NKP Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
Source: NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
Source: NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)

FAQs

Answers to questions you might have about NKP | M&A Insights.

What does M&A Insights do?

Established in 2018 by a former private equity investment professional, NKP | M&A Insights is an independent intelligence provider serving investors and advisory firms active in private M&A markets.

We deliver proprietary, subscriber-only coverage of live and emerging M&A situations, supported by structured data on historical transactions, ownership developments, and valuation benchmarks.

Who is M&A Insights for?

NKP | M&A Insights serves professional participants across the M&A ecosystem who rely on early, accurate market intelligence.

Our subscriber base includes private equity funds, direct lenders, investment banks, corporate finance boutiques, law firms, audit and advisory firms, strategy consultancies, and transaction insurance providers.

How is M&A Insights different from traditional providers?

NKP’s coverage differs from traditional providers along three dimensions: breadth, timing, and analytical approach.

First, we surface materially more relevant live situations by relying primarily on non-public sources and systematic signal monitoring, resulting in several times higher coverage density across sectors and size tiers within the markets we cover.

Second, situations are typically identified and verified at an earlier, pre-process stage, providing subscribers with earlier visibility than public or transaction-driven channels.

Finally, NKP is built by and for investment professionals. Our team’s financial background - and the firm’s origins in private equity - are reflected in an investor-centric, data-driven research model focused on decision-useful insight rather than journalistic reporting.

​Which markets does M&A Insights cover?

NKP focuses on proprietary M&A intelligence across the Nordics, DACH, UK & Ireland, and Benelux, primarily covering companies in the upper small cap, mid cap, and large cap segments.

On average, we surface 5–7 new actionable opportunities per weekday across these markets, typically several months before they reach other channels and the broader market.

Our coverage spans live, coming, and paused processes, supported by structured historical transaction data and valuation benchmarks to provide context alongside timing signals.

Where does M&A Insights gets its information from?

NKP is a primary intelligence platform focused on non-public M&A processes across Northern Europe.

Our coverage is built through a combination of bilateral primary sources - including company owners, investors, and intermediaries - continuous monitoring of market signals, and internal verification and enrichment prior to publication.

We operate with strict source protection standards and never disclose sources without explicit permission.

What is the business model of M&A Insights?

NKP operates on a pure subscription model. Clients pay a fixed annual fee for access to our intelligence platform and coverage.

We do not charge for editorial coverage, receive referral or success fees, or participate in transactions. This structure ensures our incentives are aligned solely with delivering high-quality, decision-useful intelligence to our subscribers.

​Where is M&A Insights based?

NKP is headquartered in Hellerup, Denmark.

Our team combines native language capabilities with financial and analytical backgrounds, supporting our deep regional focus across Northern Europe.

How do I access the M&A Insights platform?

Access to NKP | M&A Insights is provided through an active subscription. Subscribers receive daily email coverage and have personal login credentials for the platform.

If you already receive our daily emails, you can access the platform at app.mainsights.io. If needed, credentials can be recovered via the “Reset password” function on the login page.

If you are unsure whether your organisation has an active subscription, or require assistance with access, please contact support@mainsights.io

What does the pricing look like?

NKP | M&A Insights is offered on a subscription basis, with pricing determined by team size and footprint.

Subscriptions are tailored to professional users. Trial access may be offered in select cases upon request.

What if I want to share information with NKP about a company or transaction?

We welcome relevant information relating to private M&A activity.

You may contact us via the form on our Contact page or by emailing research@mainsights.io. We treat all communications confidentially and do not disclose sources without explicit permission.

How do advisors submit transactions for league tables?

Advisors may submit completed transactions for league table inclusion by emailing advisors@mainsights.io.

Submissions should include the advisor’s role (e.g. sell-side corporate finance), the target company name and country, and deal value where available. Supporting details can be provided in spreadsheet format.

We typically acknowledge submissions within 24–48 hours.

Explore a subscription

For private equity funds, M&A advisors and lenders seeking early, validated and signal-driven M&A intelligence across Northern Europe.
Explore a subscription