On April 19, 2023, we shared the news that Yubico signed the intent to go public through a merger with ACQ Bure, a Swedish holding company that is currently traded on Nasdaq Stockholm. Today, at the companies’ Extraordinary General Meetings, the merger was approved by both ACQ Bure and Yubico.
The merger is expected to be registered and finalized by the Swedish Companies Registration Office by the third quarter of this year. By that time, the combined company’s name will be Yubico and the intent is to go public on Sweden’s Nasdaq First North Growth Market. Within the following 12-18 months, when the company has established the financial reporting processes required, Yubico intends to seek to be relisted on the main market, Nasdaq Stockholm.
Sweden has many international innovation brands that have made a positive impact in the world. Yubico is one of them, and I am honored to lead our now 400 person team in close collaboration with the Yubico founders and board. After winning top US technology companies, enterprises and government agencies as customers, the US will continue to be our largest market for the foreseeable future. Becoming a public Swedish company, backed by long term investors, will further strengthen our global trust brand, our market position in Europe, our transparency towards customers and partners and solidify long term investments in new products and services.
Yubico has and continues to be on an incredible growth journey. Net sales have grown by a compounded annual growth rate (“CAGR”) 50% since 2016 and, in 2022, we reached our all-time high net sales of SEK 1,561 million with an operating profit of SEK 215 million.
From being a private company with a limited number of shareholders to our journey to go public, we now welcome others to be a part of Yubico’s future success and mission: to stop phishing and credential theft, the single largest cybersecurity problem, and make the internet safer for all.
For more information about today’s news, please see here.