We advised the shareholders of the cyber security startup Talgen Cybersecurity (Talgen) on the sale of the company’s minority stake to the software company Nortal.
A critical area for every business
As a result of the transaction, Nortal will enhance the company’s cyber security branch and build new business opportunities in Europe, North America, and the Persian Gulf region. According to Priit Alamäe, Founder and Chairman of the Management Board of Nortal, this is a strategic investment for the company in a critical business area with growing importance for all customers. Alamäe added that Nortal and Talgen will create a working group of cyber security experts whose task is to mitigate customers’ cyber threats and increase their cyber security.
Nortal acquired a 19% stake in Talgen, formerly known as GT Cyber Technologies. Talgen’s largest shareholder is Martin Ruubel through TLGN Holding. The company aims to reduce the damage caused by cyber incidents by creating tools and providing services that strengthen the resilience to cyber threats for businesses, government agencies, and defense organizations.
Globally growing attention
Martin Ruubel, Chairman of the Board of Talgen, said that cyber security is receiving more and more attention across the world because cyber threats and attacks are possibly paralyzing organizations and businesses critically, which may lead to millions of euros of financial loss.
According to Ruubel, the estimated damage from cyber incidents this year alone is estimated to be around USD 6 trillion. “Attacks and failures can never be completely prevented. Therefore, the resilience and ability to quickly restore business and processes after an attack or failure is crucial for every organization to minimize losses,” Ruubel added.
Our team and services
Our team supported the owners of Talgen throughout the transaction. Among other matters, we assisted the client in negotiating, concluding, and completing the transaction, while also contributing to the preparation of transaction documents.
Our client team was led by counsel Piret Lappert, supported by partner Piret Jesse and associate Vladislav Leiri.