Who owns which VPN? The ownership map of the seven VPNs we review
When you compare two VPNs, you may really be comparing two brands of one owner. We took from each company's legal pages who runs every VPN and who stands behind it.
NordVPN9.8
ExpressVPN9.4
Surfshark9.2
Proton VPN9.0
CyberGhost8.7
PIA8.5
Hotspot Shield8.27 VPNs, 4 ownersOn this page
Of the seven VPNs we review, five belong to just two groups: ExpressVPN, CyberGhost and Private Internet Access name Kape Technologies in their policies, and NordVPN and Surfshark have shared one holding company since 2022. Proton VPN is independent, with a non-profit as its main shareholder, and Hotspot Shield belongs to the Pango group.
Groups and brands at a glance
| Group | Brands |
|---|---|
| Kape Technologies | ExpressVPN, CyberGhost, Private Internet Access |
| Nord Security | NordVPN. Surfshark shares one holding company with it since 2022 and runs independently |
| Proton Foundation (non-profit) | Proton VPN |
| Pango, part of Point Wild | Hotspot Shield, and the free apps Betternet and VPN360 |
Sources for each line are in the full map below.
The full map
For each VPN: the company that runs it and its base, the group it belongs to, and what its pages say. Checked on the companies' legal pages on 2 November 2026.
Express Technologies Ltd., British Virgin Islands. Its privacy policy calls Kape its "ultimate holding company". ExpressVPN joined Kape in 2021. (source)
CyberGhost S.R.L., Bucharest, Romania. Its privacy policy calls Kape its "ultimate holding company". (source)
Private Internet Access, Inc., Denver, United States. Its privacy policy names Kape, without using the word "owner". (source)
nordvpn S.A., Panama City, Panama. Its site footer carries the Nord Security name. (source)
Surfshark B.V., Amsterdam, the Netherlands. It says it merged with Nord Security under one holding company in 2022, with each continuing to operate independently. (source)
Proton AG, Geneva, Switzerland. Its main shareholder is the non-profit Proton Foundation. (source)
Anchorfree, LLC, according to its site footer. The same group owns free apps such as Betternet and VPN360. (source)
Why it matters who owns your VPN
Choosing between NordVPN and Surfshark, or between ExpressVPN, CyberGhost and PIA, means comparing brands inside one group. Apps and prices differ, but the top decisions are made in one company.
The operating company's base decides who can ask it for data. That is why every review names the operator and its base, not just the brand.
Ownership alone does not make a VPN safe or unsafe. What matters is whether an independent firm audited its no-logs policy, and when: see the fact box in each review.
Some well-known free apps belong to big groups too. Pango, which owns Hotspot Shield, names Betternet and VPN360 in its privacy policy and says their free versions carry ad tools that receive your IP address and device IDs. That is why we look at what a service collects before its price.
Ownership changes through acquisitions and mergers. We re-read every VPN's legal pages regularly. Last check: 2 November 2026. If you spot a change, write to us from our contact page. Our whole checking method is in how we review.
VPN ownership: frequently asked questions
Short answers to what readers ask most. Question not here? Write to us.
Kape Technologies, since 2021. ExpressVPN's privacy policy calls Kape its "ultimate holding company". The operating company is Express Technologies Ltd. in the British Virgin Islands.
Surfshark B.V. in Amsterdam runs it. In 2022 it merged with Nord Security, the owner of NordVPN, under one holding company, and it says it operates independently.
Nord Security. The operating company is nordvpn S.A. in Panama City, Panama.
They sit under one holding company since 2022 but say they operate independently, with their own apps, prices and audits.
Of the VPNs we review, ExpressVPN and CyberGhost name Kape as their ultimate holding company, and Private Internet Access names Kape in its privacy policy.