Lithuanian-based cybersecurity companies and rival virtual private network (VPN) providers Nord Security and Surfshark have finalized a merger agreement.
The companies said that the merger would “open new technical knowledge-sharing opportunities and enable more focused market diversification.” Both companies will continue to operate autonomously and maintain separate infrastructure and product roadmaps.
Since both companies are privately owned entities, the transaction details have not been disclosed.
Nord Security was established in 2012 and now has 1,000 employees who support 15 million users worldwide. The company is known for its VPN service NordVPN, freemium VPN provider Atlas VPN, password manager NordPass, encrypted cloud storage NordLocker and the advanced network access security solution NordLayer.
According to a post on its website about the merger, Nord Security was impressed by the fast growth of Surfshark and the expertise and professionalism of its team.
“The increasing complexity of cybersecurity and digital privacy is a growing challenge worldwide. We believe that this industry requires radical simplification and ease of access, both for consumers and businesses,” said Tom Okman, the co-founder of Nord Security.
Surfshark was developed with the assistance of Lithuanian business incubator Tesonet, which also helped NordVPN to grow.
He added: “Together, Nord Security and Surfshark create the largest internet security powerhouse in the market, ready to bring advanced solutions for customers.”
Nord Security said that while both companies will work independently to improve their own products, they will consolidate their resources to reach mutual goals and innovate within the cybersecurity industry.
Smaller fish Surfshark launched in 2018 and employs around 200 people. The company delivers software solutions and was a founding member of the VPN Trust Initiative. It is known for its Surfshark One suite, which bundles an award-winning VPN, antivirus, private search tool and data leak detection system alert to provide cybersecurity protection.
“Consolidations in the global consumer cybersecurity market indicate the industry’s maturity. They also bring new competitive challenges,” said Vytautas Kaziukonis, founder and CEO of Surfshark.
They added: “Nord Security and Surfshark joining forces will set the ground to scale in different digital security dimensions, which is necessary to meet the growing requirements of our customers.”
