Cygna Labs Completes Acquisition of Nokia's VitalQIP, Positioning the Company as the Second-Largest Global DDI Vendor
Wednesday, May 17, 2023
Augmenting its intellectual property and increasing its client roster, this latest acquisition demonstrates Cygna Labs' commitment to ongoing expansion in DDI products and managed services
MIAMI, May 9, 2023 /PRNewswire-PRWeb/ -- Cygna Labs, a highly specialized software manufacturer with a focus on providing enterprises worldwide with the latest innovations in DDI, cloud security, and compliance technology, announced today that it completed its previously announced acquisition of Nokia's VitalQIP, on March 31, 2023. VitalQIP will be integrated into Cygna Lab's DDI business, where it will remain an independent product line.
This acquisition positions Cygna Labs' as one of the top two global DDI vendors by market share. Many Fortune 100 customers rely on the company's ongoing innovations to provide insight and security into cloud and hybrid environments.
Alexander Haecker, CEO, Cygna Labs Group GmbH, said: "The continued adoption of cloud computing services by enterprises remains a key driver for the DDI market. Enterprise networks have become more distributed than ever, and business-critical applications that organizations rely on are increasingly being hosted in the cloud. The addition of VitalQIP to our DDI offerings ensures our existing and new customers have access to the most comprehensive selection of DDI solutions and DDI managed services in the world."
Christian Ehrenthal, CEO, Cygna Labs Corp. said, "Our ongoing merger and acquisition activity resulted in the addition of VitalQIP to our product portfolio. It is a demonstration of Cygna Labs' commitment to delivering a seamless approach, not only in security and compliance but also DDI solutions, increases our market share significantly and is a testament to Cygna Labs' mission to enhance our intellectual property."
Cygna Labs was advised on this transaction by goetzpartners (M&A), Hogan Lovells (legal), Warth & Klein Grant Thornton (finance & tax), Marsh (insurance) and King & Wood Mallesons (financing).
About Cygna Labs
Cygna Labs is a software developer and one of the top two global DDI vendors. Many Fortune 100 customers rely on Cygna Labs' DDI products and services, in addition to its industry-leading security and compliance solutions to detect and proactively mitigate data security threats, affordably pass compliance audits, and increase the productivity of their IT departments. For more information, visit https://cygnalabs.com.
Media Contact
Kim Dearborn, Cygna Labs Corp., 1 3056005215, pr@cygnalabs.com
SOURCE Cygna Labs Corp.
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