HDI Group, the Hannover, Germany-based subsidiary of Talanx Group, has taken a stake in the cyber-security start-up Enginsight in Jena, Germany.
Financial details of the transaction were not disclosed.
Enginsight offers companies fully automated protection against attacks on their data and networks. Enginsight’s software identifies gaps in safety and configuration defects and sounds an alarm when hacker attacks are taking place live, explained HDI Group in a statement.
Enginsight focuses on small and mid-sized businesses, which have to contend with increased networking and complexity, as well as a rising frequency of cyber attacks in the course of digitalization.
In addition to the HDI Group, Enginsight received funding from seed+speed and Smart Infrastructure Ventures. The capital will help Enginsight with expansion — recruiting technology specialists, building a sales structure and creating a comprehensive partner network.
“Cyber security will be an important area in the future for our customers and the HDI Group is already extremely well positioned here,” commented Martin Weldi, head of Corporate Development at the HDI Group. “We are therefore pursuing a consistent strategy by investing in a start-up like Enginsight, which offers intelligent cyber-security solutions for companies.”
The stake in Enginsight is part of the strategy of the HDI Group to drive digitalization and invest in technological innovations. Earlier this month, HDI Group took over Berlin-based Perseus Technologies GmbH, a start-up that specializes in the prevention of cyber risks and cyber emergency assistance.
With its latest cyber investments, HDI Group said it is pursuing its strategic operational objective to facilitate and promote entrepreneurial activity.
A major European insurance group, the HDI Group is active inside and outside Germany and in industrial lines and retail Insurance. HDI and its sister company, Hannover Re, operate under the umbrella of the Talanx Group, which reported 2019 premium income of €39.5 billion and has a workforce of more than 21,000 employees worldwide.
Source: HDI Group
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