European cybersecurity company Pointsharp enters the German market by acquiring Cryptshare

Swedish Pointsharp, backed by Main, announces its second add-on acquisition of secure communication specialist Cryptshare, based in Germany.

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Main Capital Partners
30/03/2022

Stockholm, 30 March 2022 – Pointsharp, backed by Main Capital Partners (“Main”), today announces its second add-on acquisition in the form of German-based secure communication specialist Cryptshare AG (“Cryptshare”).

With this acquisition, Sweden-based Pointsharp continues its impressive growth journey as it bids to become the leading provider of European-made cybersecurity products, thus strengthening European data sovereignty. Together with Cryptshare, Pointsharp is now well positioned to compete with global competitors.

Pointsharp enables companies to build a better, modern and more secure workplace. Main first invested in Pointsharp in 2020 to support the company in its next phase of growth, with a keen focus on international expansion.

In 2021, Swedish company Secmaker was added to the Pointsharp portfolio, which created a leading Nordic player in the Identity and Access Management market (“IAM”) . This acquisition of Cryptshare further strengthens Pointsharp’s position as a leading security software player in the European market, currently servicing more than 3,000 customers.

Cryptshare enables organisations to secure their digital communication, protect sensitive data and comply with GDPR regulations. Among its clients are organisations with high demand for online security, such as local governments, financial institutions, healthcare organisations, and manufacturers across the DACH region, Benelux, the Nordics and the United Kingdom.

Complete security software suite
The Pointsharp group now offers a comprehensive suite of solutions and services that enables a secure workflow from access to communication. The solutions range from advanced authentication, secure application publication, device security, lifecycle provisioning, secure email and file transfer to enterprise collaboration.

The acquisition of Cryptshare comes at a time where there is an increasing need for software that improves data safety in society and work environments, in a world that is dominated by increasing digitisation and automation of processes. The global messaging security market is expected to reach a value of USD 11.10 billion by 2025, growing by more than 13 % year on year. Main currently manages three other platform companies in the broader security software market: Sivis (Germany), Oribi and ReadID (Netherlands).

Developing a leading European IT security player
Pointsharp, founded in 2006, has grown from 10 FTE in 2020 to approximately 120 FTE in 2022, with a combined revenue of approximately EUR14 million. Together the group services clients such as Akademiska Sjukhuset Uppsala, Friesland Campina, ThyssenKrupp, Audi, Försäkringskassan, Region Blekinge, Karolinska Institutet, Deutsche Rentenversicherung Bund and Nottingham County Council.

Niklas Brask, Managing Director at Pointsharp Group, commented:
“Pointsharp is on a rapid and exciting journey to build a leading European IT security player. We offer a complete suite of security software solutions to help companies build a better, modern and more secure workplace. By partnering with Cryptshare, we are broadening our software and SaaS offering as well as our geographic reach across Europe. Together with Cryptshare, we will look not only to make our companies stronger and more advanced but also to service our customers and partners even better, with European-made IT security software and cloud solutions.”

Dominik Lehr, Founder and CEO at Cryptshare, commented:
“We have recognised that in the fragmented European vendor landscape it is crucial to join forces to become a leading SaaS and software player. So, the idea is to create larger organizations by combining different and locally strong technology vendors, which together represent a real European alternative to US technology providers. By connecting Cryptshare and Pointsharp, Main supports us with knowledge and capital while growing our German market leadership in secure digital logistics to a European scale. We welcome our new colleagues and thank them for the professional and considerate cooperation, which I personally could not observe in any other merger project so far. I am more than happy to kick-off our joint journey.”

Wessel Ploegmakers, Partner and co-Head of the Nordics office at Main, concluded:
“This strategic combination with Cryptshare symbolises another important step in Pointsharp’s growth journey as it seeks to become the leading European security player while also competing with the larger US vendors. Furthermore, the acquisition of Cryptshare enables Pointsharp to enter a key strategic growth market in Germany. We are delighted with the improved international outlook for the group as it also simultaneously adds strong and complementary solutions to the already impressive service offering.”

Pointsharp
Pointsharp was founded in 2006 and has since enabled organizations to secure their digital identities and logins by combining the ability to meet the highest security demands and today’s need for user friendly solutions. Pointsharp has a broad solution offering in the Identity and Access Management market related to multi-factor authentication, secure access, encryption, digital signature, user provisioning and password management. The company serves more than 3,000 enterprise organizations globally with high security or sensitive data needs in several different market verticals, including finance, governmental, and industrial.

Cryptshare
Cryptshare was founded in 2000 and is based in Freiburg, Germany. The company provides a comprehensive solution suite tailored towards secure communication. By combining ad hoc file transfer with email encryption the company help customers to protect data in transit outside and inside their IT environment. With 75 employees, Cryptshare services over 2.000 clients across Europe via its global partner network supporting a strong foothold across the DACH, Benelux, UK and Nordic region.

Main Capital Partners
Main Capital Partners is a strategic investor with an exclusive focus on enterprise software companies. Main has almost 20 years of experience in building strong software groups in the Benelux, the DACH-region and the Nordics. Main specialises in helping management teams within mature and growing software companies achieve sustainable growth by working closely together as a strategic partner. Main has a workforce of 45 employees working from offices in The Hague, Stockholm and Düsseldorf, offering support on a strategic and a pragmatic level. As of October 2021, Main Capital has approximately €2.2 billion assets under management. Main has invested in more than 130 software companies to date. These companies have created jobs for approximately 4,000 employees.

 

 

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