Safer Society Group sells Griffeye to Magnet Forensics, creating the undisputed global leader in digital investigation software solutions.
[Gothenburg, Sweden, August 21, 2023] Magnet Forensics, a global leader in digital investigation software has entered into an agreement to acquire the Swedish digital media forensics SaaS company, Griffeye. Following the transaction, Griffeye becomes part of Magnet Forensics to jointly as a larger group create and capture additional opportunities for product development and business growth, while helping investigators around the globe efficiently solve more cases.
The transaction between the Swedish Safer Society Group and Magnet Forensics, backed by US- based private equity investor Thoma Bravo, is the result of a competitive offer process lead by M&A advisor Alantra and law firm White & Case. Thoma Bravo is the world-leading private equity player investing in software and has in addition to Magnet Forensics previously acquired the mobile device digital forensics company Grayshift.
“Magnet Forensic’s acquisition of Griffeye confirms our successful strategy for the company. Griffeye has grown strongly and now faces a continued growth path including geographical expansion in the US and Europe that is best enabled by a new resourceful owner. We are convinced that Magnet Forensics, backed by Thoma Bravo provides a formidable match as new owners of Griffeye,” says Carl Kistenmacher, Chairman of Safer Society Group and Griffeye.
Under the Safer Society Group’s ownership, Griffeye has over recent years developed rapidly in terms of turnover, geographical reach, and product development and today stands out as an acknowledged world leader in digital media forensics for Child Sexual Abuse (CSA) investigations. Griffeye’s SaaS revenues have tripled in the last three years and is by the end of 2023 expected to reach 168 mSEK with an expected ARR of 191 mSEK.
Pelle Garå, Co-founder and CEO of Safer Society Group continues; “With their world-leading collaborative technology platform and mission-driven people, manifested by a 90+ Net Promotor Score (NPS), Griffeye has under the leadership of Johann Hofmann and the management team made a decisive contribution to the world community in fighting crime. It is with great confidence that we now look forward to their future achievements together with the new colleagues at Magnet Forensics and the unique market presence and impact that they possess.”
Johann Hofmann, CEO of Griffeye ends; “Joining Magnet Forensics brings new opportunities for our growth, our customers and employees, involving geographical footprint, customer engagement and product development just to name a few synergies of scale, scope and skill. I am impressed by Magnet Forensics drive to innovate while collaborating closely with customers, something we also take pride in at Griffeye. That, together with our shared mission of serving investigators to solve more cases, solidifies a cultural match where I and the management team at Griffeye are fully committed to join and lead the way forward together with both current and new colleagues.”
The deal was completed on 10th of Augusti 2023. The parties have agreed not to disclose any details of the transaction. Safer Society Group was represented by Alantra and White & Case in the transaction.
Contact information
Carl Kistenmacher, Chairman Safer Society Group and Griffeye, +46 (0) 708 399 416 carl.kistenmacher@safersociety.com
Pelle Garå, Co-founder and CEO Safer Society Group, +46 (0)70 816 36 54, pelle.gara@safersociety.com
Johann Hofmann, CEO Griffeye, +46 (0)76 893 95 41, johann.hofmann@griffeye.com
About Griffeye:
Griffeye revolutionized law enforcement investigation processes with the release of its digital investigation platform in 2015. Today, Griffeye is world-leading in its field and used by over 1,000 police agencies across the world for processing, sorting and analyzing large volumes of images and videos – especially in cases containing Child Sexual Abuse (CSA) material. www.griffeye.com
About Safer Society Group:
Safer Society Group has developed several technology companies with the mission to create a safer and better society. Following the sale of Paliscope in 2021 and Griffeye in 2023, the group currently holds the daughter company NetClean, a world-leader in SaaS-solutions protecting business IT environments against child sexual abuse material. www.safersociety.com
