The EQT Mid Market Europe fund ("EQT") is pleased to announce that it has signed a definitive agreement to sell Ontinue ("Company"), a provider of AI-powered managed cybersecurity services focused on the Microsoft ecosystem, to Quorum Cyber.
Ontinue helps organizations detect, investigate and respond to cyber threats across their Microsoft environments. The Company serves more than 250 customers consisting of enterprises, NGOs and institutions across Europe and the US through a 24/7 delivery model. Its proprietary ION platform is designed around the Microsoft security ecosystem and uses agentic AI automation to increase the speed, efficiency and accuracy of threat detection and response.
Ontinue was originally developed within Open Systems as its Managed Detection and Response business and was carved out into a standalone company in 2023 as its technology, organization and strategic priorities became increasingly distinct.
EQT initially invested in Open Systems in 2017 and supported its development from a network-focused managed security services provider into a SASE business. Open Systems nearly doubled sales and more than tripled EBITDA during EQT's ownership before being sold to Swiss Post in 2024.
Since becoming a standalone company, EQT has supported Ontinue in establishing its standalone organization, strengthening its leadership team and go-to-market organization internationally, while consolidating three technology platforms into a single AI-native and automation-first platform. The company also continued to invest in its capabilities, including through three add-on acquisitions focused on data science, AI and cybersecurity services.
Christian Küpper, Director and responsible for the investment at EQT Private Equity said: "It has been a privilege to work with Moritz and the Ontinue team and experience first hand how agentic AI transformed the company. Since the carve-out from Open Systems in 2023, Ontinue has established itself as a standalone business, strengthened its financial profile and established itself as a leading MXDR player powered by its leading agentic AI and automation capabilities. We believe that the combination with Quorum Cyber creates a strong platform for Ontinue's next phase of development and look forward to following the company's continued progress."
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