International security and privacy management software deal masterminded by ICON team

June 21, 2024

Bristol-headquartered tech-focused investment bank ICON Corporate Finance has advised on a major international deal in the fast-moving data privacy sector.

ICON partner Eddie Harding and director Florian Depner worked with, a market leader in SaaS (software as a service) on its acquisition by specialist security and compliance automation SaaS provider DataGuard.

The transaction expands DataGuard’s footprint, particularly in the Nordic region and the UK, and strengthens its market position across its core geographies of Europe and North America.

Based in Stockholm, DPOrganizer works with privacy professionals and in-house data protection and compliance teams in more than 20 countries to build and run effective privacy programs, comply with regulation and build trust with their customers and partners. 

It is a portfolio company of leading venture capital funds Paladin, Industrifonden, Inbox and Soläng.

Munich-headquartered DataGuard, which is backed by One Peak and Morgan Stanley Capital, helps more than 4,000 customers active in 50-plus countries build robust security and compliance management systems.

It said integrating DPOrganizer’s capabilities would amplify its offering by enhancing the unique system of record for its customers’ security and compliance domain. At the same time it would help maintain its advantage as the world transitions into the era of AI-piloted security and compliance programs.

DPOrganizer co-founder Egil Bergenlind said: “DPOrganizer was built for, and is loved by, privacy and compliance professionals.

“By joining forces with DataGuard we can add capabilities such as the AI co-pilot, asset management, risk and controls management, and numerous information security frameworks.

“Huge thanks to Eddie Harding and Florian Depner from ICON for all the hard work. Selling a company is a complex matter, even when both sides know from day one that joining forces makes all the sense in the world.”

ICON director Florian Depner added: “We are thrilled to have advised Egil and his team on this important cross-border transaction in the privacy management space.

“This fits right into the emerging theme of the convergence of data privacy, compliance and infosecurity industries.

“As detailed in our recent cybersecurity industry report, we’ve observed a recent uptick in cybersecurity M&A activity and expect industry consolidation to continue at a fast pace.

“This deal, which sees two industry leaders joining forces, bolsters ICON’s continued advisory services for tech leaders across the Nordics, DACH and the rest of Europe.”

Financial details of the deal have not been disclosed.

ICON, which specialises in mergers and acquisitions and fundraising in the tech sector, was founded in Bristol in 1999 and has since opened offices in London and San Francisco and closed more than 250 deals.

Its recent deals have included advising Bristol-founded TravelLocal, the leading brand and online marketplace platform for tailor-made holidays, on its £8.3m Series B funding round.

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