Private equity firm EQT has sold Utimaco Verwaltungs, a developer of cybersecurity solution, to alternative asset manager SGT Capital.
The Germany-headquartered company Utimaco builds a range of cybersecurity and compliance solutions. Clients can access on-premises and cloud-based hardware security modules.
During its holding, EQT claims Utimaco has experienced strong organic growth as well as making five strategic add-ons in the US, UK, Spain and Germany. Utimaco closed to triple revenues.
The RegTech company has over 470 employees around the world and its clients span the insurance, banking, automotive, government, manufacturing, telecoms industries, among others.
Utimaco CEO Stefan Auerbach said, “In the last years, we have built a global platform leader for trusted cybersecurity solutions, providing the highest level of security and compliance to the world’s largest corporates and governments.
“With EQT’s support, we have been able to transform the business and accelerate growth by making substantial investments. The collaboration with the EQT team and the board has been fantastic, and we would like to thank you all for the great partnership and look forward to the next phase of growth together with SGT.”
EQT recently made its first investment in Israel. The private equity firm supported the $100m round of cybersecurity company CYE.
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