Italian multinational Leonardo has bought a 24.55 percent stake in Finnish firm SSH Communications Security in a $23.6 million deal to expand its cybersecurity portfolio. The agreement is still subject to approval by SSH shareholders and Finnish regulatory practices.
In the last three decades, SSH has worked with government agencies, commercial institutions and financial organizations, providing various solutions to protect critical infrastructure. Named after a Secure Shell protocol, the Finnish cybersecurity company’s solutions include securing activities in hybrid cloud environments and IT and operational technology infrastructures and proprietary Wide Area Network encryption solutions certified for government and military operations.
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According to Leonardo, the deal aligns with the efforts to establish a “Made in Europe” Zero Trust ecosystem. It also covers integrating SSH technologies into Leonardo’s line of zero trust products, which Roberto Cingolani, CEO and general manager at Leonardo, said supports the company’s strategic growth plan.
“Cybersecurity represents one of the strategic development areas of our industrial plan. With this acquisition, Leonardo increases its portfolio in an international perspective,” the chief executive said.
“The agreement combines SSH’s technological expertise with Leonardo’s technologies and solutions, advanced assets and services, and domain-specific knowledge. In an environment where threats evolve rapidly and regulations become more stringent, organizations increasingly need advanced, future-proof solutions.”