TGS Baltic has advised Lithuanian cyber security tech unicorn Nord Security on attracting a USD 100 million investment from US private equity group Warburg Pincus. Sorainen reportedly worked with Kirkland & Ellis and De Brauw Blackstone Westbroek to advise Warburg Pincus.
According to TGS Baltic, the investment saw Nord Security's valuation almost double in one year, from USD 1.6 billion to USD 3 billion, "making it one of the biggest deals in the tech sector this year. Lithuanian company Nord Security is one of the world’s largest virtual private network (VPN) providers." It helps users to ensure their safety on the internet. The company also provides other services like password management and file sharing.
"Compared to other technology companies, whose value has decreased over the past year as venture capital markets have slowed, Nord Security is an outlier that increased its financing and value. Additional investment created stronger financial influence for the company and new opportunities to strengthen its market position, improve and expand its product offers, and acquire other companies," TGS Baltic reported.
"We will continue to address the needs of our users by bringing market-leading innovative features, informative marketing, and a holistic approach towards consumer and business cybersecurity needs," Nord Security Co-CEO and Co-Founder Tom Okman commented. "The new financing round and our investors' experience and know-how allow us to be in an even stronger position to make the Nord name synonymous with online privacy and security."
The TGS Baltic team included Partner Marius Matonis and Senior Associate Paulius Dabulskis.
