SGS Buys CertX, Expanding into Cybersecurity Certification
Deal News | Dec 17, 2024 | Legal Community Swiss
SGS, a leading company in inspection, verification, testing, and certification, has acquired CertX, a Swiss specialist in cybersecurity and artificial intelligence certification. CertX, founded in 2018 as a spin-off from the University of Fribourg, focuses on functional safety alongside AI and cybersecurity. The acquisition enhances SGS's capabilities in these areas. Legal counsel was provided by Advestra, with a team comprising partner Daniel Raun, associate Fabian Loretan, and junior associate Martina Giacometti, all specializing in corporate and M&A.
Sectors
- Certification and Conformity Assessment
- Cybersecurity and Artificial Intelligence
- Legal Services
Geography
- Switzerland – Both SGS and CertX are based in Switzerland, and the acquisition is significant in the Swiss context.
Industry
- Certification and Conformity Assessment – SGS operates in the realm of inspection, verification, testing, and certification, making this industry highly relevant.
- Cybersecurity and Artificial Intelligence – CertX specializes in cybersecurity and AI, areas which are increasingly critical in the modern digital landscape.
- Legal Services – Advestra provided legal counsel during the acquisition, indicating the relevance of this industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SGS | Acquirer | Company | A leading company specializing in inspection, verification, testing, and certification services. |
| CertX | Target company | Company | A Swiss certification specialist in cybersecurity, AI, and functional safety, founded in 2018. |
| Advestra | Legal advisor | Company | Provided legal counsel for the acquisition of CertX by SGS. |
| University of Fribourg | Foundation | Company | CertX is a spin-off from this institution, which highlights its academic roots. |
| Daniel Raun | Partner | Person | Partner at Advestra, involved in the transaction. |
| Fabian Loretan | Associate | Person | Associate at Advestra, involved in the transaction. |
| Martina Giacometti | Junior Associate | Person | Junior Associate at Advestra, involved in the transaction. |