The move in spring 2019 to sell RUAG’s cybersecurity business and other business areas was made in accordance with the unbundling concept approved by the Swiss Federal Council and with the decision on the strategic realignment. HelpSystems will acquire all RUAG’s shares in Clearswift and become the sole owner. Clearswift and its 150 employees specialises in information security and offers adaptive cybersecurity solutions to companies around the world to protect business-critical data effectively from internal and external threats. With the successful sale of Clearswift, RUAG International is withdrawing from the cybersecurity market. Swiss cybersecurity service activities have already been restructured or transferred to RUAG MRO Switzerland.
Urs Breitmeier, CEO RUAG Group, is very positive about this move: “As of the decision of the Swiss Federal Council to unbundle RUAG, the Group's cybersecurity strategy has come to an end. We are all the more pleased to have found HelpSystems, a buyer with a large global presence that can continue to develop Clearswift’s business in the future. This brings our activities in the area of cybersecurity to a financially successful conclusion that is in line with our strategy.” Since the beginning of 2017 Clearswift has grown well due to strong global demand for security software and represents a successful investment by RUAG with an overall return of around 20%. The parties have agreed to keep the purchase price confidential.
“The Clearswift solutions, and the talented team that supports them, strengthen HelpSystems’ growing cybersecurity business,” said Kate Bolseth, CEO, HelpSystems. “The addition of the Clearswift solutions to the HelpSystems portfolio will provide customers an expanded set of cybersecurity options that protect critical data and enable compliance with industry mandates such as PCI, GDPR, and HIPAA and help them stay on top of the shifting cybersecurity environment.”
The sale of Clearswift is the second transaction of this nature following the sale of the Business Jet locations in Geneva and Agno. Accordingly, RUAG international’s transformation roadmap is well on track towards Aerospace group. RUAG International is also working on solutions to ensure the future viability of the MRO International and Ammotec business units.