Telenor bolsters security offering with Combitech AS acquisition

Telenor Cyberdefence is part of the Telenor Amp portfolio, which consists of 15 wholly or partially owned companies with a combined value of 10-12 billion NOK, we’re told, and has ambitions to expand across the Nordics.

Combitech AS is the Norwegian business of Swedish security firm Combitech AB, which is owned by the defence and security group Saab. It has offices in Oslo and provides services in security consulting, penetration testing (authorised simulated cyberattack) and cloud-based monitoring and response.

"When we announced Telenor Cyberdefence, we stated that we have big ambitions. This acquisition demonstrates that, and we have more in the pipeline," said Dan Ouchterlony, Head of Telenor Amp. "We have ambitions to become a leading partner for cybersecurity solutions in the business market in the Nordics. The acquisition of Combitech AS is an important step to achieve this goal."

Thomas Kronen, CEO of Telenor Cyberdefence added: "We are pleased to welcome Combitech AS to Telenor Cyberdefence. This transaction is a significant step forward for us and provides the opportunity to offer our customers a broader portfolio of cybersecurity solutions. Combitech AS has a strong security environment with solid expertise and long traditions, and with its strategy, service portfolio and customer base, it is a perfect match for Telenor Cyberdefence. Through this acquisition, we add valuable expertise in addition to expanding our current customer base, which gives us a solid foundation to look at further investment."

The acquisition is ‘one of several strategic initiatives’ from Telenor to strengthen its security position in the Nordic market, we’re told, and having been set up last month Telenor Cyberdefence is on a recruitment drive.In May, the operator named its new CEO as Benedicte Schilbred Fasmer, currently chief executive of SpareBank 1 SR-Bank and who will take the helm in December. She replaces Sigve Brekke who will retire after a nine-year tenure.