German-based insurance company HDI Group has acquired Perseus Technologies for an undisclosed amount.
The acquisition was completed on 1 February 2020.
Perseus Technologies is a start-up company that specialises in the prevention of cyber risks and emergency cyber assistance.
Through the acquisition, HDI Group hope to offer cyber insurance policies and cybersecurity services from a single source.
HDI Group also intends to improve Perseus’ business model.
Perseus managing director Richard Renner will continue to lead the company.
HDI Group subsidiaries HDI Versicherung and HDI Global have been partners of Perseus since last year.
Perseus employs 35 employees and is based in the Berlin Fintech Hub H:32.
The start-up will remain an independent brand and continue to provide cybersecurity solutions to its existing customers and third-party companies.
Prior to the acquisition, Hannover Re and finleap were the shareholders of Perseus.
They were also part of the Talanx Group under which the HDI Group is currently operating.
HDI Group is a major insurer in both the industrial and retail sectors and operates inside as well as outside Germany.