EQT sells Swiss network and cybersecurity provider Open Systems to Swiss Post

EQT is pleased to announce that EQT Mid Market Europe (EQT) and its shareholders have agreed to sell Open Systems Swiss Post.

Based in Zurich, Switzerland, Open Systems delivers networking and cybersecurity capabilities on a single cloud-based platform known as Secure Access Service Edge (SASE). Open Systems’ innovative SASE Experience eliminates the complexity of secure global connectivity and network management while providing seamless 24×7 global support. The company plays a key role in helping customers around the world transform their networks and cybersecurity by offering a fully integrated, single-pane cloud and software platform and supporting services.

Artificial Intelligence for Operational Efficiency

EQT acquired a majority stake in Open Systems in 2017. During its ownership, the company nearly doubled sales and more than tripled EBITDA while making significant investments in its technology platform and transforming itself from a network-focused managed security services provider into a leading SASE player with deep cybersecurity capabilities. Open Systems also built a Managed Extended Detection and Response (MXDR) business that was spun off in 2023 and now operates as a standalone company under the Ontinue brand, which will be retained by EQT. Organic growth was complemented by three strategic add-on acquisitions, including Sqooba, a Swiss provider of data science, AI, cloud and cyber services founded by current Open Systems CEO Daniel Neuhaus.

As part of Swiss Post, Open Systems will continue its growth journey under the leadership of Daniel Neuhaus. With the acquisition, Swiss Post strengthens its role as a digital communications service provider, increasing its competences and know-how to support digitally connected businesses in Switzerland.

Daniel Neuhaus, CEO of Open Systems

I would like to thank EQT for their support over the years and their hands-on involvement in our development. The investment by Swiss Post is a confirmation of our long-term strategy to become a leading SASE software provider with the best customer experience. With Swiss Post we have found a sustainable partner in Switzerland that shares our values and will support us in continuously delivering best-in-class technology and services to our customers while continuing to drive innovation.

Philipp Woerner, Director at EQT Private Equity Advisory Team

We are continually impressed by Open Systems’ track record of technological innovation in the area of networking and cybersecurity. Thanks to the dedication and commitment of the management team led by Daniel, Open Systems delivers compelling technologies and services from Switzerland to its customers worldwide. We could not imagine a better future home for Open Systems than Swiss Post to support its continued strong growth.

Nicole Burth, CEO of Swiss Post Communication Services

Open Systems strongly complements our current offering in the area of cybersecurity. The company is a perfect cultural fit and supports our strategy of delivering cybersecurity to our Swiss customers. This makes the network and communication of companies more efficient and secure thanks to the unique cloud security solutions provided by Open Systems.