OneSpan
completes
acquisition of mobile security firm Build38
PORTFOLIO NEWS OneSpan Inc. (NASDAQ: OSPN) said it has completed its acquisition of Build38, a European specialist in protecting mobile applications. The transaction makes Build38 part of the US-listed cybersecurity group’s platform, expanding its capabilities in securing mobile channels used for payments, authentication and digital identity.
For eCAPITAL Entrepreneurial Partners, a Build38 investor, the transaction represents another successful exit. The transaction also reflects the growing strategic importance of mobile security as regulators and companies increasingly treat critical digital touchpoints as infrastructure.
Build38 shows that European security specialists are strategically relevant in a market with rising attack frequency and a growing sovereignty debate and that this relevance translates into exits. It is a clear example of what we aim to do as a venture fund: build European deep-tech teams into global hidden champions and position them so strategic buyers with access to international capital markets step in.
Katharina Frie, Partner, eCAPITAL
Cybersecurity moves from IT issue to resilience and sovereignty priority
The threat environment is tightening. The World Economic Forum has pointed to data suggesting the average number of weekly cyberattacks per organisation has more than doubled over four years. In Germany, industry association Bitkom estimates the total damage to businesses in 2025 from theft, sabotage and industrial espionage at €289.2bn, with 70% (€202.4bn) attributed directly to cyberattacks.
Build38: focused on mobile attack surfaces
Founded in 2019 as a spin-off from Giesecke+Devrient, Build38 develops protection technology for mobile applications, including in banking, payments and mobile identity. With the integration, OneSpan said it will broaden its app-shielding offering with a more intelligence-driven layer for mobile application security.
About eCAPITAL:
Founded in 1999, eCAPITAL is an entrepreneur-led venture capital investor focusing on early- and growth-stage deep-tech companies with a positive impact on society. eCAPITAL is based in Germany and invests with its own funds with a total volume of over € 400 million in the areas of New Materials, Climate Tech, AI Technology, and Cybersecurity. In addition to financial resources, eCAPITAL offers its portfolio companies strategic support and access to an international network of entrepreneurs, scientists, investors and founders. eCAPITAL was lead investor in several deep-tech companies such as sonnen, Novaled or Jedox, which were sold very successfully to international corporates or investors.
For more information visit: www.ecapital.vc
Press Contact:
Aileen Tebbe, a.tebbe@ecapital.vc