The private equity fund Axcel has acquired the Danish ransomware protection software provider BullWall.
BullWall has developed RansomCare, a specialist software protecting against ransomware attacks, acting as a last line of defence when conventional cybersecurity systems fail. The company was formed in 2016 and has 20 employees; 8 in Denmark, 10 in Great Britain and 2 in the USA.
BullWall has great momentum and expects to grow by more than 100% this year.
The company was formed by CEO Michael Slipsager and CTO Jan Lovmand who retain minority shareholdings in the company and continue in their current positions.
Axcel was formed in 1994 and is a leading Nordic private equity fund. Axcel has made more than 150 investments and currently owns 19 companies.
Accura advised Axcel in connection with the transaction.