The EQT Mid Market Europe Fund acquires a majority stake in Open Systems AG from its current private owners. They will remain shareholders and continue to contribute to the continuity and future success of Open Systems in different roles within the company. Open Systems’ current executive team, with Martin Bosshardt as CEO, will continue to lead the company. Management will continue to build on a long track record of growth, based on a highly skilled team of currently 150 employees delivering technical and operational excellence that results in high service quality and high customer satisfaction.
Open Systems was founded by Florian Gutzwiller in Basel, Switzerland. Since then, Open Systems has achieved consistent sustainable growth and transitioned from a security integrator into one of the largest pure-play Managed Security Services Provider (MSSP) in Europe. The Company offers security enabled networks by fully integrating SD-WAN, Network Security, Web and Application Security as well as Incident Handling and Response. Headquartered in Zurich, Switzerland, Open Systems currently operates in more than 180 countries, with operations centers in Zurich and Sydney, Australia, and an office in New York, USA.
EQT Mid Market Europe is excited to support the continued development and growth of Open Systems, both in Europe and the US, through its extensive knowledge and global network in the IT services industry. The strategy is to implement expertise as well as additional investment in Open Systems’ technology and service portfolio, in the expansion into new geographies, in its salesforce and in targeted marketing spending. In addition, it is intended to pursue M&A via complementary service providers or products.
“It is impressive how the selling shareholders and the Open Systems employees have built one of the largest pure-play managed security service providers in Europe. Testimonial of this growth is the outstanding customer satisfaction and the unique corporate culture of the Company. This provides an excellent base for the next growth step and I am convinced that EQT is the right partner to support Open Systems in unlocking its full potential in the future”, says Florian Funk, Partner at EQT Partners, Investment Advisor to EQT Mid Market Europe.
“Open Systems is an excellent opportunity to invest at the tipping point of the managed security service market which benefits from strong secular growth drivers and increased customer awareness”, adds Jens Zuber, Director at EQT Partners, Investment Advisor to EQT Mid Market Europe.
Florian Gutzwiller, founder of Open Systems and member of the Board of Directors, says: “We are very excited to join forces. EQT brings the experience and network of its Industrial Advisors, as well as the necessary financial resources to the table to grow our company’s capabilities and global market reach. The chemistry among the team is a perfect fit and I am certain, that I’m passing my company into very capable hands.”