Swiss Post acquires majority stake in Tresorit
The everyday lives of people and companies in Switzerland are becoming increasingly digital. Swiss Post aims to play a significant role in supporting and shaping this development. It is therefore investing in its existing services. Swiss Post has acquired a majority stake in established file sharing company Tresorit. The company’s service protects digital information of individuals and organizations in the cloud according to the latest security standards. This takeover expands Swiss Post's offering for its customers in the area of digital infrastructures and secure data transfer.
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Technologies are changing lives around the world. Digital infrastructure, data security, e-commerce and global logistics chains are becoming increasingly important for Switzerland’s long-term competitiveness. Swiss Post is committed to supporting the Swiss economy and the population in this digital transformation and to simplifying their everyday lives. For this reason, it will continue to grow in this area and will consistently align its services with customers’ future needs. It is doing this by investing in the expansion of existing services as well as technologies and by selectively acquiring established companies with specific expertise.
In line with this strategy, Swiss Post has acquired a majority stake in Tresorit. Tresorit offers a secure solution for managing, storing, syncing and sharing files for individuals and companies in the cloud. The solution is based on end-to-end-encryption. Using the latest technology, the company ensures that the control over data remains in the hands of the owner even after it has been shared. Tresorit itself can never access user data either. The company offers another advantage: customers have a choice as to which country their data should be stored in. In addition, all Tresorit customers conclude their contracts in accordance with Swiss law and are therefore subject to the Swiss Federal Act on Data Protection.
The company, with its administrative headquarters in Luxembourg has offices in Switzerland (Zurich), Germany (Munich) and Hungary (Budapest), was founded in 2011 and employs around 120 people.
Swiss Post is expanding its competencies for customers in Switzerland
“The confidential and secure transport of sensitive data from A to B is firmly rooted in Swiss Post’s DNA. We aim to bring into the digital sphere what we have successfully proven with mail secrecy for 170 years. At the same time, digital interactions for people, companies and public authorities should be simple and secure,” says Nicole Burth, Member of the Executive Management and Head of Communication Services. “Tresorit has paved the way for true end-to-end encryption across the software industry over the past decade. With the acquisition of Tresorit, we are strategically expanding our competencies in digital data security and digital privacy, allowing us to further develop existing services – for customers in Switzerland,” she adds.
“Swiss Post and Tresorit share the same values in terms of security and data protection. We are convinced that this collaboration strengthens both companies and opens up new opportunities for us and our customers,” says István Lám, founder and CEO of Tresorit.
For Tresorit’s employees, the acquisition does not result in any changes. They will continue to be employed by Tresorit. Tresorit will become a subsidiary of Swiss Post and operates as an independent company. The parties have agreed not to disclose the purchase price and transaction details.
Tresorit on its achievements
Tresorit provides an encrypted productivity solution for secure collaboration, combining patented end-to-end encryption (E2EE) and zero-knowledge technology. In order to secure their files while sharing, more than 10,000 businesses globally including SMEs and enterprises rely on the easy-to-use, secure service with granular data control features and seamless integration into workflows. Tresorit was recognized as Europe’s fifth fastest-growing cybersecurity company by the Financial Times in 2020 and received the Customers’ Choice award from Gartner as the first E2EE productivity tool. Since 2011 Tresorit has secured funding from business angels and financial investors including leading CEE venture capital and the private equity firms 3TS Capital Partners and PortfoLion Capital Partners.