Translink CF acted as the advisor to Eyeon Group on the acquisition of Safestate

Translink Corporate Finance Sweden acted as financial and strategic advisor to Eyeon Group on its acquisition of the Swedish IT security company, Safestate. The acquisition expands Eyeon Group’s customer base to over half a million end customers, further strengthens its position, particularly within the insurance industry. The acquisition also adds a portfolio of ready-made products, providing a solid foundation for continued growth.

Founded in 2021, Safestate is a Swedish SaaS company specialising in IT security. Safestate has positioned itself as a strong brand within the cyber security segment, with an established customer base of around 225,000 end customers. The company was recently named “Cyber Security Solution Provider of the Year” at the annual Cyber Insurance Awards Europe. In recent years, the company has demonstrated strong growth, increasing by 340% between 2022 and 2024. In 2025, net revenue is expected to reach approximately 22 SEKm.

Eyeon Group was founded in 2015 and is a SaaS provider that, through proprietary technology develops and sells solutions within IT security, privacy protecting services, and AI based data solutions. Eyeon Group targets primarily the B2B market in Europe, serving industries such as banking, insurance, telecom and hosting.

Comments from Safestate

Daniel Fyhr, Founder and CEO of Safestate, said, “This is an exciting development for Safestate. Together with Eyeon Group, we look forward to accelerating our growth and strengthening our offering, creating even greater value and enhancing security for our customers and partners.”

Comments from Eyeon Group

Mattias Kaneteg, Senior Advisor at Eyeon Group, said, “The acquisition of Safestate is a significant step in our strategy to expand within cyber security and strengthen our offering for both individuals and business. Having completed more than 25 acquisitions together in Miss Group, I have seen firsthand Translink’s ability to execute these types of acquisitions through its project management, strategic guidance and market knowledge. Working with Translink on this acquisition made the entire process seamless and efficient, and I look forward to continuing this collaboration.”

Comments from Translink Corporate Finance

Fredrik Ullberg, Partner at Translink Corporate Finance Sweden, said, “We are honoured to have advised Eyeon Group on its successful acquisition of Safestate. It is exciting to continue working with Mattias Kaneteg and his new venture in the cyber security sector. Safestate is a well-established company with a diverse range of cyber security products that will integrate seamlessly into Eyeon Group, further strengthening its product portfolio. At Translink, we sincerely appreciate the trust placed in us by Eyeon Group and the excellent collaboration throughout the process. We look forward to following the companies’ joint journey and its continued success.”