Police were on Sunday investigating an explosion in the early hours outside the offices of a company in Nicosia, they said.
A statement said police received a call at around 1.30am. The company is owned by a 58-year-old.
At the scene, police said the explosion had caused extensive damage to the entrance of the offices.
A second explosive device was found on the rear wheel of a car belonging to an 83-year-old which was parked in a residential spot next to the targeted company.
The explosive device was neutralised before it went off, police said.