BOSTON – September 22, 2025 – Cyberbit, a leader in hyper-realistic attack simulation cyber ranges and SOC (Security Operations Center) readiness, today announced the acquisition of RangeForce, a pioneer in cloud-based cyber ranges and scalable solo and team exercising. Headquartered in the US, the combined global company delivers one of the world’s most advanced operational cyber readiness platforms, powered by AI, grounded in realism, and designed to prepare teams for the reality of relentless threats. This acquisition reflects Cyberbit’s commitment to enhancing the capabilities of the cybersecurity professionals who serve as the frontline defense against those cyber threats.

Two leaders, one vision

Cyberbit’s hyper-realistic attack simulations have become a recognized industry benchmark for testing and strengthening SOC performance under real-world attack conditions. RangeForce has built its reputation on adaptive, scalable upskilling and cloud cyber ranges for both solo and team exercising. Both are recognized in the “Forrester Wave™: Cybersecurity Skills & Training Platforms”, with Cyberbit named a Leader and RangeForce a Strong Performer.

“By joining forces, the companies create a seamless readiness journey, from entry-level analysts building skills and experience to advanced defenders confronting the most sophisticated cyber-attacks,” said Brian Pierce, CEO at Cyberbit.

“Cyberbit’s acquisition of RangeForce represents a significant leap forward in how organizations can prepare their teams for the realities of today’s cyber threat landscape,” said Darren Battistoni, Managing Director and Co-Head of Technology Opportunities at Charlesbank Capital Partners, Cyberbit’s financial sponsor. “By uniting two of the industry’s leading cyber ranges, we believe customers can now gain access to an unprecedented breadth of content and highly realistic training experiences built around the same tools and environments they use every day.”

AI at the core

RangeForce’s adaptive, AI-powered tutor delivers personalized learning, while the AI-driven content engine accelerates the creation of cutting-edge scenarios. The result is a living, evolving SOC readiness library that continuously evolves alongside the threat landscape.

“Cyberbit and RangeForce bring together two organizations deeply passionate about cybersecurity defender readiness,” said David Etue, CEO of RangeForce. “The combined company’s capabilities, paired with our recent advances in AI, position us to deliver experiences that ensure SOC and IR teams are prepared for sophisticated cyber-attacks.”

As boards demand proof of resilience and adversaries become more aggressive, CISOs can no longer afford to discover gaps after a breach. The combined platform spans from the SOC to the boardroom, delivering AI-led, data-driven, and hyper-realistic attack simulations that security leaders can trust.

“This is the solution for CISOs who want to move past assumptions and truly understand their teams’ capabilities, and for the CISOs who refuse to discover gaps only after the damage is done,” said Pierce.

Expanded value for customers

The acquisition expands the Live-Fire Exercises catalog (team cyber range), strengthens the joint content library, enhances AI capabilities and user experience, and broadens coverage for commercial, enterprise, and government sectors.

With dedicated teams and strategic data centers across the US and EU, the combined company also expands support for the government and highly regulated sectors, enabling compliance-ready simulations and proven resilience under the most realistic conditions.

Together, Cyberbit and RangeForce set a new benchmark for resilience in the face of relentless threats.

“Cyberbit and RangeForce joining forces marks a major milestone in cybersecurity readiness. As a partner to both companies, Carahsoft is thrilled to see this powerful combination come together with their vision to deliver this comprehensive, AI-powered readiness platform for SOC and IR teams,” said Alex Whitworth, Cybersecurity Solutions Vertical Executive at Carahsoft Technology Corp. “This collaboration enhances Carahsoft’s ability to provide innovative, integrated solutions, enabling the Public Sector and enterprises across the U.S. to strengthen their defenses against today’s most persistent and sophisticated adversaries.”

Acknowledgements

BTIG, LLC served as exclusive financial advisor, and King & Spalding LLP served as legal advisor to RangeForce.

Cruz-Abrams Seigel, LLC served as legal advisor, and PricewaterhouseCoopers served as financial and tax advisor to Charlesbank and Cyberbit.

Leesburg, VA – September 10, 2025 – Quantum Leap (the “Company”) today announced the completion of an investment from funds managed by global investment firm Carlyle (NASDAQ: CG). As part of the transaction, Jim Miller, Quantum Leap Founder and CEO, Razor’s Edge, and other existing shareholders have reinvested alongside Carlyle.

Quantum Leap is an innovative provider of cybersecurity and intelligence solutions for U.S. government customers, helping to solve some of the most complex national security challenges. As a trusted government partner, the Company leverages technical, operational, and analytical expertise to offer differentiated intelligence and advanced technology solutions that address customer requirements across the space, cyber, electromagnetic spectrum, and maritime domains.

Jim Miller, who will continue to lead the Company as CEO, said, “We are delighted by this opportunity to partner with Carlyle, one of the preeminent investors in the defense and intelligence sectors, and to benefit from their expertise as we continue to execute for our customers. We chose to partner with Carlyle because of their long track record supporting companies focused on national security and commitment to continue investing in Quantum Leap’s people and solutions to drive mission impact.”

“We are extremely excited to partner with Jim Miller and the Quantum Leap team,” said Dayne Baird, Partner on Carlyle’s Aerospace, Defense & Government team. “Quantum Leap is a truly unique business, with extraordinary people and capabilities that are focused on enabling some of our country’s most critical and complex missions. We are honored to support Quantum Leap in the pursuit of advancing our national security.”

Jack Kerrigan, Managing Partner at Razor’s Edge said, “The Quantum Leap team manages programs of global consequence with a level of professionalism, innovation, and focus that is simply extraordinary. We are thrilled to continue this work with Quantum Leap and Carlyle, investors who share Jim’s standard of excellence, integrity, and commitment to customers.”

J.P. Morgan acted as the exclusive financial advisor to Quantum Leap in connection with the transaction. Covington & Burling LLP acted as legal advisor to Quantum Leap. Latham & Watkins LLP acted as legal advisor to Carlyle.

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About Quantum Leap

Quantum Leap delivers a broad range of national security solutions to a diverse base of U.S. defense and intelligence agencies. Quantum Leap’s capabilities are aligned with some of the most critical national security missions and help customers overcome their steepest challenges across the space, cyber, electromagnetic spectrum, and maritime domains. Headquartered in Leesburg, VA, Quantum Leap employs a world-class team of professionals with deep subject matter expertise across technology and intelligence.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About Razor’s Edge

Razor’s Edge is a growth equity firm that invests in technology companies in national security and high-growth commercial markets. In addition to providing capital to accelerate the pace of innovation, Razor’s Edge offers direct and practical operational support informed by decades of collective experience in the national security sector. The Razor’s Edge team works tirelessly to identify disruptive technologies and capabilities that can solve critical mission needs and deliver them to government and commercial customers who need them. For more information, visit www.razorsvc.com.

Media Contacts:

For Quantum Leap:

Bonnie Good

(703) 783-5203, extension 112

bonnieg@ql-research.com

For Carlyle:

Brittany Bensaull
(212) 813-4839
brittany.bensaull@carlyle.com

For Razor’s Edge:

Jack Kerrigan

(703) 774-8797

jkerrigan@razorsvc.com

Advent and Nextalia announce the signing of binding agreements for the acquisition of a stake in Tinexta from current majority shareholder Tecno Holding and the subsequent launch of a mandatory tender offer aimed at delisting

Upon completion, Advent and Nextalia will hold the majority of the shares of Tinexta while Tecno holding will retain a significant minority stake

Milan, 5 August 2025 – Advent International L.P. (“Advent”) acting on behalf of certain private equity funds managed and / or advised by it, and Nextalia SGR S.p.A. (“Nextalia”), acting on behalf of the Nextalia Private Equity and Nextalia Flexible Capital funds (together the “Sponsors”), announce the signing of binding agreements for the acquisition of a stake in Tinexta S.p.A. (“Tinexta” or the “Group”) from the current majority shareholder Tecno Holding S.p.A. (“Tecno Holding”).

Tinexta is an Italian group with digital transformation at its core, operating across three divisions: Digital Trust, Cybersecurity, and Business Innovation. The Digital Trust division is a leading player in the Italian and European Digital Transaction Management market, enabling secure and trustworthy digital transactions between individuals and service providers as well as offering crucial digital tools for independent professionals. The Cybersecurity division offers a wide range of products and services within the Italian cybersecurity market. Lastly, the Business Innovation division supports SMEs and enterprises in innovation, sustainability, and internationalization processes through specialised advisory services.

Founded in 2009 and listed on the Euronext STAR Milan Segment since 2016, Tinexta has operations in 12 countries and over 3,000 employees. The Group has grown consistently over the past 15 years through a combination of organic growth and strategic M&A transactions, reaching total revenues in excess of €450 million in 2024.

As described in greater details in the press release available on Tinexta’s website, the transaction (the “Transaction”) entails the acquisition of a stake representing 38.74% of Tinexta share capital held by the current majority shareholder Tecno Holding by private funds managed by Advent and Nextalia (the “Acquisition”), and the launch, acting in concert with Tecno Holding, of a mandatory tender offer for Tinexta’s shares (the “Offer”), with the aim of delisting from the Euronext STAR Milan market, at the same price (€15 per-share) paid to Tecno Holding in the context of the Acquisition.

Completion of the Acquisition and launch of the Offer are subject to the approval of the Transaction by the shareholders’ meeting of Tecno Holding, convened for the 7^th of August 2025, and to the receipt of all required legal authorisations.

Upon satisfaction of these conditions, the Sponsors will complete the Acquisition and proceed with the launch of the Offer, providing timely disclosures to the market.

Upon completion of the Transaction and assuming full success of the Offer, the Sponsors will hold the majority of Tinexta’s shares, while Tecno Holding will retain a significant minority stake.

Francesco Canzonieri, CEO of Nextalia, commented: “This transaction is transformational for Tinexta and represents a compelling opportunity to unlock significant value and accelerate growth in high-potential sectors. It allows us to position  ourselves on an asset with the potential to become a consolidator and a key player in the Digital Transaction Management  market. We aim to give the Group a clear strategic direction and long-term industrial imprint. Nextalia, thanks to its industrial and financial expertise and its extensive network of relationships, will support the Group in the effective execution of its business plan. This also confirms our ability to seize the most compelling opportunities in the Italian market, executing complex and impactful transactions in partnership with leading international investors.”

Francesco Casiraghi, Managing Director at Advent, commented: “Tinexta has a strong track record of innovation and is well-placed to become a European champion. Our investment in Tinexta reflects Advent’s commitment to backing leading growth-oriented businesses across Europe. Joining forces with Nextalia and Tecno Holding provides a unique opportunity to support the company’s next chapter, through enhancing its innovation capabilities, expanding internationally, and delivering long-term value. We look forward to working closely with the management team and our partners to accelerate Tinexta’s strategic development.”

Carluccio Sangalli, Chairman of Tecno Holding, commented: “We are proud to join forces with Advent and Nextalia, who represent the best partners to support Tinexta’s development in the years ahead, by contributing additional financial and industrial expertise. We believe that, also thanks to Advent and Nextalia’s global network and capabilities, Tinexta is ready to take a further step in its growth and market consolidation strategy, particularly abroad. We are also confident that the transaction will enhance the Group’s positioning as a hub for talent retention and an attractive platform for highly qualified professionals, delivering benefits for all of Tinexta’s stakeholders.”

Advent and Nextalia were assisted by Rothschild & Co, Mediobanca, Barclays, and Banca Akros / Gruppo Banco BPM as financial advisors, by Chiomenti and PedersoliGattai as legal advisors, Alvarez & Marsal for financial due diligence and by Legance and KPMG for tax and structuring matters. Tecno Holding has been advised by Lazard as exclusive financial advisor and by Gatti Pavesi Bianchi Ludovici as legal advisor.

About Advent

Advent International is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $94 billion in assets under management* and have made over 430 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 660+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

*Assets under management (AUM) as of March 31, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

About Nextalia

Nextalia SGR S.p.A. is an investment platform promoted by Francesco Canzonieri together with leading Italian institutional investors (Intesa Sanpaolo, Unipol Assicurazioni, Aurelia, Finprog Italia, Fondazione ENPAM, H14, Istituto Atesino di Sviluppo, Massimo Moratti S.a.p.a, Confindustria, Bonifiche Ferraresi and Micheli Associati.

With approximately two billion euros in assets under management, Nextalia has established itself as a key Italian player in private market investments, leveraging its extensive network and the expertise of a highly qualified team. Nextalia manages five funds, “Nextalia Private Equity”, “Nextalia Credit Opportunities”, “Nextalia Ventures”, “Nextalia Capitale Rilancio” and “Nextalia Flexible Capital” and has recently launched the fundraising phase for “Nextalia Credit Solutions”.

About Tecno

Tecno Holding S.p.Ais a financial company participated by Camere di Commercio, companies from the chamber system, and Unione Nazionale.

Media Contacts

Advent
Community
Giulia Polvara adventinternational@community.it
+39 334 2823514
Mafalda la Gala
mafalda.lagala@community.it
+39 347 74635

Nextalia
Marina Marchese
Gregorio Galimberti
IR@nextalia.com

MAIM Group
Andrea Pontecorvo
a.pontecorvo@maimgroup.com
+ 39 393 5486192

The round was led by Balderton and joined by Supernova and Lakestar, with additional participation from existing investors.

Exein, the embedded IoT cybersecurity company at the forefront of defending Europe’s critical infrastructure, has raised €70m in a Series C round. The fresh capital will drive Exein’s ambitious global expansion plans across the US, Japan, Taiwan, and South Korea, as well as to strengthen its established European presence.

Hackers, including many state-sponsored actors, have identified smart devices as a back door into critical systems at businesses and organisations, with one in three data breaches involving a IoT device. Exein, which secures more than a billion smart devices globally, including critical infrastructure for railway networks and healthcare providers, is creating a digital immune system for connected devices, which is fast becoming the global standard for embedded IoT security.

Exein offers AI-enabled, real-time threat detection across key industries, including critical infrastructure, semiconductor, energy, automotive, healthcare, and robotics. Achieving over 450% year-over-year growth, Exein has formed strategic partnerships with the world’s leading chipset and OEM/ODM manufacturers, including MediaTek, Supermicro, Kontron, SECO and AAEON.

Exein’s end-point approach creates a digital immune system, securing individual devices rather than relying solely on network defences. This decentralised approach ensures that manufacturers can seamlessly integrate the latest security tools into their products, safeguarding devices from cyber threats and ensuring compliance with stringent global cybersecurity regulations such as Europe’s NIS2 and the Cyber Resilience Act – which comes into force in 2026 – and the US Cyber Trust Mark.

As part of Exein’s strategic global expansion, the company is also developing runtime security solutions to secure AI infrastructure and large language models (LLMs), addressing the growing demand to secure AI and LLMs operating within devices, rather than in a centralised cloud environment. Additionally, the funding will support Exein’s pursuit of strategic M&A opportunities in the cybersecurity industry, further enhancing its growth plans.

Partnership with Hg will accelerate A-LIGN’s growth trajectory and support its mission to become the global cyber compliance services champion.

TAMPA, FLORIDA, July 8th: A-LIGN, a leading provider of technology-enabled cybersecurity compliance services, today announces that it has secured a significant strategic investment from Hg, a leading investor in European and transatlantic software and services businesses. Hg will acquire a majority stake in the company from Warburg Pincus.

The investment comes as organizations face a surge in cyber-attacks, with AI-powered threats making compliance and security more critical and complex than ever before. This has increased the demand for sophisticated compliance partners to navigate this environment and provide assurance to stakeholders.

Headquartered in Tampa, Florida, A-LIGN’s cybersecurity compliance audits and related assessments allow organizations to provide assurances to their customers that sensitive data is protected, and that mission-critical operations are conducted with integrity.

Since its founding in 2009, A-LIGN has established itself as a category leader in cybersecurity compliance services, serving over 5,700 clients with audits and assessments including SOC 2, ISO, HITRUST, FedRAMP, CMMC and PCI standards.

A-LIGN’s customer-first approach and extensive use of technology has enabled the firm to deliver over 50% compounded annual growth over the past 15 years. A-LIGN’s delivery model combines deep domain expertise with proprietary technology, to deliver superior audit quality, while driving operational efficiency for its customers.

The partnership with Hg will support A-LIGN’s ambitious growth plans, leveraging Hg’s extensive network to accelerate its global expansion, and building on Hg’s commitment and expertise in data and AI to drive significant value for A-LIGN’s customers.

Jefferies LLC served as lead financial advisor and Guggenheim Securities, LLC served as financial advisor to A-LIGN and Warburg Pincus. Cleary Gottlieb Steen & Hamilton LLP served as legal counsel for A-LIGN and Warburg Pincus. Harris Williams served as financial advisor to Hg, with Latham & Watkins serving as Hg’s legal counsel.

For further information, please contact:

A-LIGN
Press inquiries, press@a-lign.com

Hg
Tom Eckersley, tom.eckersley@hgcapital.com
Sam Ferris, sam.ferris@hgcapital.com

Warburg Pincus
Kerrie Cohen, kerrie.cohen@warburgpincus.com

About A-LIGN
A-LIGN is the leading cybersecurity compliance partner, trusted by over 5,700 organizations worldwide to navigate the complexities of compliance, audit, and risk.

With a tech-enabled delivery model and deep domain expertise, A-LIGN has completed more than 31,000 audits. It is the #1 issuer of SOC 2 reports and a top three FedRAMP assessor. Founded in 2009, A-LIGN delivers high-quality, efficient audits across frameworks including SOC 2, ISO 27001, FedRAMP, CMMC, ISO 42001, PCI, and HITRUST. To learn more, visit: https://www.a-lign.com.

About Hg
Hg is a leading investor in European and transatlantic software and services businesses. We help to build sector-leading enterprises that supply critical software applications or workflow services to deliver intelligent automation for their customers.

We take an active approach to value creation, combining deep end-market knowledge with world class operational resources to provide compelling support to entrepreneurial leaders looking to scale enduring businesses.

With a vast European network and strong presence across North America, Hg has more than $85 billion in assets under management and more than 400 employees. Our portfolio spans more than 50 companies worth over $160 billion in aggregate enterprise value, employing more than 126,000 people and consistently growing revenues at more than 20% annually.

About Warburg Pincus
Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles.

Today, the firm has more than $87 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

Conscia, a leading European provider of cybersecurity, networking, hybrid cloud, observability and managed services, announces the acquisition of Dubex, a Danish cybersecurity specialist with deep expertise in advisory and managed security services.

With the acquisition of Dubex, Conscia is advancing its cybersecurity and security operations center capabilities across the Group while also deepening technical expertise and strengthening local competencies in Denmark. The acquisition is thus a strategic move to expand Conscia’s already strong security competencies and accelerates its ambition to become a pan-European leader in cybersecurity and managed services. This marks Conscia’s 16th acquisition in five years.

“Dubex is a perfect match and strengthens Conscia’s strategic position as Europe’s go-to cybersecurity company,” says Erik Bertman, CEO of Conscia Group. “Dubex adds deep security capabilities and a culture of leadership and excellence that aligns with our values. By combining their focused services with our pan-European platform, we can scale our leading cybersecurity capabilities and respond to rapidly evolving cyber threats more effectively.”

Dubex has a proven track record of more than 25 years dedicated to cybersecurity with a strong service offering across Governance, Risk & Compliance, Security Operations, Managed Security Services (including SIEM, MDR, and EDR), Incident Response, Offensive Security, and cybersecurity training. Dubex brings immediate scale to Conscia’s cybersecurity operations, both in terms of people and service breadth. With more than 80 specialists joining, including a high-capacity Security Operations Center (SOC), the Group significantly boosts its delivery power.

“Conscia Denmark now firmly establishes itself as a comprehensive cybersecurity partner. By integrating Dubex’s strong brand and capabilities in high-trust areas like incident response and offensive security, Conscia is positioned to be the first call when critical threats emerge. This significantly enhances our relevance and visibility among enterprise and public sector clients,” says Martin Høyer, General Manager of Conscia Denmark. “We’re excited to welcome a team that shares both our dedicated customer focus and strong technical DNA, and I look forward to working together with Dubex’s leadership to the benefit of customers from both companies.”

Dubex’s service offering and focus on cybersecurity fits well with Conscia’s scalable operational model while maintaining continuity in leadership, organisation and customer relationships.

“Joining Conscia is a natural step for us. We’ve always prioritized technical excellence and close customer partnerships – values we know Conscia shares,” says Gorm Mandsberg, co-founder and CEO of Dubex. “With access to new resources and broader capabilities, we can expand our impact and continue to lead in the cybersecurity field for our clients.”

The parties have agreed not to disclose financial details of the transaction and completion is subject to regulatory approval and customary closing conditions.

Press contacts:

Conscia Group
Daniel Siberg, Chief Sales & Marketing Officer
Phone: +46 734 082 778
Email: dasi@conscia.com

Conscia Denmark
Janne Rumle Becker, Communications- & Marketing Director
Phone: +45 51 29 32 20
Email: jbc@conscia.com

‍About Conscia

Conscia is a pan-European leader in cybersecurity and managed services for mission-critical IT infrastructure. Conscia secures and runs complex digital infrastructure for large organisations in an increasingly digital world facing rising threats and vulnerabilities. With global expertise and a local presence, Conscia designs, delivers, and manages cybersecurity, networking, hybrid cloud, and observability solutions that keep systems protected, connected, and high-performing. By safeguarding critical data and operations, Conscia ensures organisations stay resilient and prepared for what’s next – empowering them to secure progress. Founded in Denmark in 2003 and backed by private equity investor Nordic Capital, Conscia has grown into a pan-European leader. Headquartered in Denmark, the company now employs more than 1,400 people across Belgium, Finland, Germany, Ireland, Norway, Slovenia, Sweden, the Netherlands, and the UK, serving clients in multiple sectors including finance, healthcare, manufacturing, utilities, retail, and the public sector.