09/09/2008
PortWise and SAAB establishes co-operation within civil security
Kista, Sweden
Saab has been active in the civil security market for some time, and increases its focus on the area. The investment
in PortWise is a step towards building a product portfolio within the information security sector. Saab will integrate the PortWise product suite as a proprietary and integrated offer within Saab's civil security offer. After the transaction will have an 18.75 percent ownership in PortWise.
"PortWise will be granted access to a fast growing market segment with high security and performance demands",
says Håkan Rosén, head of products and acquisitions at Security.
"Through this deal, PortWise will gain access to a strong long-term industrial partner who can contribute with knowledge both commercially and technically", says Mikael Jacobsson, CEO of PortWise. "Saab gets access to an important technology and a knowledge that is a key component in its civil security thrust."
Saab, through SAAB Ventures, and PortWise CEO Mikael Jacobsson will together with the largest existing shareholders, Scope, Verdane and DFJ Esprit, provide significant expansion capital to PortWise. SAAB Ventures is a venture capital unit within Saab, which invests in small and medium size enterprises (SMEs) that contribute to Saabs future strategic plan.