WithSecure – Sale of open source data collection product and business

WithSecure – Sale of open source data collection product and business

With EU member states implementing and expanding their foreign direct investment regimes and increasingly scrutinising reviews of foreign investments in critical sectors, the regulatory environment for cross-border investments and other change of ownership arrangements is more complex than ever before.

In many corporate transactions, it is necessary to consider whether the transaction could impact the national interests of Finland or another country and therefore require a regulatory filing with the authorities in one or more jurisdictions. As foreign direct investments (FDI) and cross-border corporate transactions more often require regulatory filings under different regulatory regimes and jurisdictions, it is increasingly important to carefully assess the implications of possible FDI regulatory filings on deal certainty and transaction timeline. It is also advisable to carefully plan the filing process and to customise the relevant deal terms appropriately.

Our experienced FDI regulation experts regularly perform FDI reviews and advise clients in authority proceedings related to investments and other ownership arrangements. We evaluate the applicability of the regulatory filing requirements as well as the likelihood of success and the potential risks of contemplated investments for our clients in the Finnish regulatory framework and determine how the filing requirements should be taken into consideration in the timeline and conditions of the transaction.

We know the changing FDI regulatory environment thoroughly. As our client, you will benefit from our extensive service offering, successful project management and recognised ability to execute complex transactions. In international regulatory matters, your project is supported by our unique global network of law firms.

Our clients include international corporations as well as private equity funds and other investors acquiring or establishing businesses in Finland or carrying out corporate transactions that directly or indirectly affect the ownership of a Finnish business. Through our international partner network, we also advise Finnish clients in their corporate and ownership arrangements that may require an analysis of FDI issues in jurisdictions outside Finland.

Our services include

  • Strategic advice related to the FDI approval process
  • Analysing the need for application and/or notification under Finnish FDI regulation in relation to agreements, investments and other transactions
  • Coordinating the work of foreign counsel with regard to the FDI analysis in other jurisdictions
  • Drafting and submitting the applications and notifications
  • Advice during the proceedings and project management of the FDI notification process as a whole

Latest references

We assisted Pharmaca Health Intelligence in its acquisition of Mediaattori Ltd’s PODIUM Connect® and PODIUM Visits businesses. Through the acquisition, Pharmaca Health Intelligence strengthens its extensive service offerings in medical information, data-driven management, and education for both healthcare and pharmaceutical companies. Pharmaca Health Intelligence is a pioneer in digital medical information and a reliable partner for wellbeing services counties, the private healthcare sector and pharmacies. The company invests in the development of technology and service solutions related to pharmaceutical information, also on an international scale.
Case published 5.12.2024
We advised WithSecure Oyj in the sale of its open source data collection product and business to Patria Oyj. The divested business combining software and services falls outside WithSecure’s current strategy. Through the sale, WithSecure sharpens its focus on the Elements portfolio. WithSecure is a global cyber security company (listed on NASDAQ OMX Helsinki) with more than 35 years of industry experience. WithSecure offers partners flexible commercial models, ensuring mutual success across the dynamic cyber security landscape. Patria is an international company in the defence and security industry offering defence, security and aviation life cycle support services and technology solutions. As a result of the transaction, Patria will open a new office in Oulu and 10 WithSecure experts currently working in the business area will join Patria. 
Case published 30.9.2024
We advised Exsitec Holding AB in a transaction whereby it acquired all the shares in M-flow Finland Oy. M-flow Finland Oy is a Finnish company engaged in reselling Medius B2B standard S2P software-as-a-service solutions in Finland. Exsitec Holding AB is a Swedish company part of the Nordic Exsitec group, which has over 20 offices in the Nordics. Exsitec delivers digital solutions to improve its customers’ businesses.
Case published 4.7.2024
We are acting as Finnish legal advisor to Prevas Aktiebolag in its acquisition of approximately 92 percent of the shares in NMAC Group Oy (‘Enmac’). This acquisition marks Prevas’ entry into the Finnish market and is aligned with its growth strategy, enabling future market synergies. Swedish Advokatfirman Lindahl KB is acting as lead legal counsel to Prevas Aktiebolag in this deal. Enmac was founded in 1983 and is a prominent player in the Finnish market offering advanced services in production process development, including advanced technical calculations, industrial automation, product development, as well as process and piping design. With approximately 200 employees and 8 locations in Finland, Enmac achieved a turnover of MEUR 23 in 2023. The transaction is subject to approval from the Finnish Ministry of Economic Affairs and Employment.
Case published 23.5.2024