Utimaco GmbH, an Aachen, Germany-based global provider of specialist professional cyber security and compliance solutions, received a majority investment from EQT Mid Market.
With the deal, subject to regulatory approvals, sellers Pinova Capital and BIP Investment Partners and Management will re-invest significant parts of their proceeds and remain minority investors. The not disclose the financial details of the transaction
The company intends to use the proceeds for continued development through organic and acquisitive growth, especially internationally.
Founded in 1983 and led by Malte Pollmann, CEO, Utimaco is a global provider of specialist professional cyber security and compliance solutions. It has been developing hardware-based, high-security appliances (hardware security modules) and compliance solutions for telecommunication provider regulations (lawful interception and data retention).
The company, which has turnover of approximately €40m, has around 170 employees in Germany, US, Italy, UK and Singapore.