Safer Society Group sells Paliscope to CyberInsights
CyberInsights has entered into an agreement to acquire the Swedish SaaS company Paliscope. Through the sale, Safer Society Group streamlines its operations and frees up resources for continued development of the company’s remaining businesses.
Under Safer Society Group’s ownership, Paliscope has evolved into a leading technology platform for digital evidence management and documentation. The sale enables a stronger focus on Safer Society Group’s remaining businesses in SaaS security solutions, NetClean and Griffeye.
The sale is to CyberInsights, supported by the Family Office firm Moor Holding, which invests in transformative digital companies.
“CyberInsights acquisition of Paliscope is proof that our work with Paliscope since its inception three years ago has been very successful. The company has grown substantially and faces continued growth that is best accommodated as a standalone company. The transaction also provides Safer Society Group with substantial funds for its continued growth,” said Carl Kistenmacher, Chairman of Safer Society Group
“Paliscope was developed utilizing knowledge and network from NetClean and Griffeye, giving us a head start. The company has grown quickly and is now entering a global scale-up phase. The sale puts both Safer Society Group and Paliscope in the best possible position to continue to grow as independent businesses. Safer Society Group are now focusing on further developing NetClean and Griffeye, both world-leading companies with exciting growth journeys ahead of them,” said Pelle Garå, CEO Safer Society Group.
In 2020, Safer Society Group transferred its three business areas into separate subsidiaries. The move was part of giving the separate businesses the best possible conditions for continued growth, a process which now continues with the divestment of Paliscope.
“With the support of Safer Society Group, Paliscope has developed a unique SaaS platform with global potential over the past few years,” says Christian Berg, CEO Paliscope. “We look forward to continuing our growth journey together with CyberInsights and are confident that we are well positioned to realize our vision of becoming the global leader in investigations management.”
The parties entered into the agreement on 3 June, 2021, and closed the transaction on 30 June, 2021. The parties have agreed not to disclose any details of the transaction. Safer Society Group was represented by SEB Corporate Finance Growth and White & Case in the transaction.