July 8, 2021 | Deals

GCA Altium advises Tresorit on the sale of a majority stake to Swiss Post

GCA Altium acted as exclusive financial advisor to the management and shareholders of Tresorit, a leading end-to-end encrypted file sharing and storage platform, on the sale of a majority stake in the business to Swiss Post.

Tresorit’s service protects digital information of individuals and organisations in the cloud according to the latest security standards. The firm offers a secure solution for managing, storing, syncing and sharing files in the cloud, based on end-to-end-encryption. Using the latest technology, Tresorit ensures that the control over data remains in the hands of its owner even after it has been shared. Customers can choose in which country they want their data to be stored, and all Tresorit customer contracts are in accordance with Swiss law and are therefore subject to the Swiss Federal Act on Data Protection. The company, which was founded in 2011 and employs around 120 people, has its administrative headquarters in Luxembourg, with further offices in Switzerland (Zurich), Germany (Munich) and Hungary (Budapest).

The everyday lives of people and companies in Switzerland are becoming increasingly digital. Swiss Post aims to play a significant role in supporting and shaping this development and is therefore investing in its existing services. The acquisition of Tresorit expands Swiss Post’s offering for its customers in the area of digital infrastructures and secure data transfer.

“The confidential and secure transport of sensitive data from A to B is firmly rooted in Swiss Post’s DNA. We aim to bring into the digital sphere what we have successfully proven with mail secrecy for 170 years. At the same time, digital interactions for people, companies and public authorities should be simple and secure,” said Nicole Burth, Member of the Executive Management and Head of Communication Services at Swiss Post. “Tresorit has paved the way for true end-to-end encryption across the software industry over the past decade. With the acquisition of Tresorit, we are strategically expanding our competencies in digital data security and digital privacy, allowing us to further develop existing services – for customers in Switzerland.”

“Swiss Post and Tresorit share the same values in terms of security and data protection. We are convinced that this collaboration strengthens both companies and opens up new opportunities for us and our customers,” added István Lám, founder and CEO of Tresorit.

The acquisition will not result in any changes for Tresorit’s employees, who will continue to be employed by Tresorit. The firm will become a subsidiary of Swiss Post, operating as an independent company. The parties have agreed not to disclose the purchase price and transaction details.

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