1.0Market Snapshot
- +22%
- Revenue growth in 2025 of InfoGuard, one of the largest specialised Swiss security providers, to CHF 87.4 million. There is no official statistic for the cybersecurity market or its employment.
- 260+
- Cyberattacks on critical infrastructure reported to the Federal Office for Cyber Security between April 2025 and February 2026 under the new reporting duty (Netzwoche).
- 19%
- Share of the first 164 mandatory reports that came from the finance sector, ahead of IT (8.7%) and energy (7.6%) (Federal Office for Cyber Security, September 2025).
- 350+
- Companies that InfoGuard helped to handle cyberattacks in 2025, over 30% more than a year earlier (InfoGuard, March 2026).
2.0Industry Overview
Cybersecurity has become a regulated, growing service market in Switzerland. Since April 2025, operators of critical infrastructure must report cyberattacks to the Federal Office for Cyber Security; by February 2026 it had counted more than 260 attacks, with the public sector, IT and telecoms, and finance and insurance most affected. In the first six months the finance sector made 19% of the reports. Voluntary incident reports rose by about 2,000 in 2025.
3.0Industry Health Check (SWOT)
- Trusted Swiss brand for security and confidentiality
- Shortage of security specialists
- Mandatory incident reporting for critical infrastructure since April 2025
- Global security vendors bundling services
Unlock full Cybersecurity Services intelligence
Market trends, cost structure, key players, succession analysis and regional clusters for Cybersecurity Services — free with Market Pulse, our monthly letter on Swiss deals.
Includes one letter a month on Swiss deals. Unsubscribe anytime.
Cybersecurity Services business valuation in Switzerland
- Statutory Multiple (EBITDA)
- 6.0 - 8.5×
- Deal Multiple (EBITDA)
- 7.5 - 11.0×
- Market Trend
- Rising
Indicative ranges based on market research. Actual multiples vary by company size, growth, and market conditions.
8.0Regional Clusters
Zurich
Adnovum, Open Systems and Exeon Analytics are registered here.
Central Switzerland
InfoGuard, one of the largest specialised providers, is registered in Baar.
Eastern Switzerland
Compass Security is registered in Rapperswil-Jona.
Bern and Solothurn
DreamLab Technologies is registered in Bern.
Sources
9.0Frequently Asked Questions
▶How much is a cybersecurity company worth in Switzerland?
ValIndex's multiples table puts Swiss cybersecurity at 7.5–11.0× EBITDA in transactions and 6.0–8.5× EBITDA on statutory valuations. Firms with recurring managed services and regulated clients sit at the upper end; project consultancies dependent on a few experts at the lower end.
▶What drives the value of a Swiss cybersecurity firm?
Buyers price: (1) recurring managed-security revenue; (2) 24/7 operating capability; (3) certified experts and staff retention; (4) clients in finance and critical infrastructure; (5) own technology versus resold products; (6) dependence on the founders.
▶How big is the Swiss cybersecurity market?
There is no official market size or company count: the BFS has no class for cybersecurity. The Swiss Cybersecurity Start-up Map lists 54 Swiss companies (April 2025), and InfoGuard, one of the largest specialists, had revenue of CHF 87.4 million in 2025.
▶Who are the main Swiss cybersecurity firms?
Leading firms include InfoGuard in Baar, Adnovum, Open Systems and Exeon Analytics in Zurich, Compass Security in Rapperswil-Jona and DreamLab Technologies in Bern.
▶What are the key trends in Swiss cybersecurity?
Five trends: (1) the reporting duty for critical infrastructure; (2) finance as the most targeted sector; (3) strong demand for incident response; (4) cross-border consolidation; (5) regulation such as NIS2 and DORA driving consulting.
▶What are the main risks when buying a Swiss cybersecurity firm?
The main risks are: (1) dependence on a few experts; (2) staff turnover in a tight labour market; (3) liability and reputational risk after incidents; (4) project revenue that varies year to year; (5) competition from global vendors. Due diligence should check recurring contracts, certifications, staff retention, liability insurance and client concentration.
▶What is the reporting duty for cyberattacks in Switzerland?
Since 1 April 2025, operators of critical infrastructure must report cyberattacks to the Federal Office for Cyber Security. It received 164 reports in the first six months, with the finance sector at 19%, and more than 260 by February 2026. Sanctions for failing to report apply from October 2025 (Netzwoche).
▶Where are Swiss cybersecurity firms located?
Specialists are concentrated in Zurich (Adnovum, Open Systems, Exeon Analytics), Central Switzerland (InfoGuard in Baar), Eastern Switzerland (Compass Security in Rapperswil-Jona) and Bern (DreamLab Technologies). There is no official regional statistic for the industry.