EQT Sells Ontinue to Quorum Cyber
News related to:Ontinue · 1 min read
EQT, the private equity firm, has agreed to sell Ontinue, an AI-powered managed cybersecurity services provider, to Quorum Cyber. The sale marks a significant milestone for Ontinue, which has more than doubled in scale since its carve-out from Open Systems in 2023.
Ontinue specializes in providing 24/7 managed security operations through its Managed Extended Detection & Response (MXDR) platform, which leverages agentic AI and automation to enhance the speed, efficiency, and accuracy of threat detection and response. The company serves over 250 customers, including enterprises, NGOs, and institutions across Europe and the United States.
Under EQT's ownership, Ontinue has undergone a series of strategic transformations. The firm supported the company in establishing a standalone organization, strengthening its leadership team, and expanding its international go-to-market presence. Additionally, EQT consolidated three technology platforms into a single, AI-native and automation-first platform, further enhancing Ontinue’s capabilities.
Christian Küpper, a Director at EQT Private Equity, expressed satisfaction with the company's progress.
EQT's investment in Ontinue began in 2017, as part of its broader strategy to support the growth of network-focused managed security services providers. During EQT's ownership, Ontinue nearly doubled its sales and more than tripled its EBITDA. The carve-out from Open Systems was a strategic move to focus on the company's distinct technology, organization, and strategic priorities.
Quorum Cyber, the buyer, is expected to benefit from Ontinue's expertise in the Microsoft ecosystem and its advanced AI-driven cybersecurity solutions. The acquisition is anticipated to strengthen Quorum Cyber's market position and expand its service offerings.
The sale of Ontinue to Quorum Cyber is part of EQT's ongoing strategy to realize value from its investments and support the growth of its portfolio companies. The transaction is subject to customary closing conditions and is expected to be completed in the coming months.