Net Group is expanding to Germany

Estonian leading business and software development company Net Group is expanding to Germany. With this step, the company is acquiring a technology company operating in Germany that specializes in providing cybersecurity solutions for both the private and public sectors. This transaction secures Net Group's position in Germany and adds cybersecurity consulting to their range of Estonian services, in addition to business and software development.

Specifically, Net Group acquired Cloud Ahoi GmbH, a cybersecurity company founded in 2021, which originated from Volkswagen's software development team and remains their strategic partner.

According to Net Group's CEO Priit Kongo, this transaction is significant for several reasons. Firstly, it increases their capacity to offer cybersecurity services. Secondly, Germany is Estonia's largest export market, which provides Net Group with a unique opportunity to export valuable knowledge from Estonia to Germany in both the private and public sectors.

Kongo emphasized that the transaction is also important for Net Group due to the acquisition of new competencies. Thanks to the cybersecurity knowledge gained from the German market, Net Group will be able to actively offer cybersecurity services in Estonia and other markets, in addition to Germany.

In addition to business model innovations and software development, Net Group plans to bring the experience of Estonian public sector solutions to Germany, including top-level AI-based e-government solutions, such as mobile services for citizens and the chatbot Bürokratt.

Kongo noted that this is not merely the acquisition of one company but an important step in promoting knowledge transfer and cooperation between the two countries.

Following the acquisition, the previous owners of Cloud Ahoi will retain a 30% stake in the company, and they will continue to actively manage the company. Cloud Ahoi's CEO Matthias Voss commented that the merger with Net Group opens up new and exciting growth opportunities for their team and creates a better prerequisite for offering even greater value to customers.

In addition to Estonia and now Germany, the business and software development company Net Group also operates in Finland, Sweden, Luxembourg, the United Kingdom, and Latvia.


Source: Delfi Ärileht

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