Pinova Capital adds Utimaco Safeware to portfolio


software2_lrgPinova Capital and BIP Investment Partners have bought German software and hardware security business Utimaco Safeware AG.

Utimaco, which was previously owned by UK-based software company Sophos, will continue to develop as an independent business led by its CEO Malte Pollmann and CFO Frank Nellissen.

Pollmann said, “We are very excited about our new investor base. The diligent work with Pinova and BIP has not only shown deep expertise but produced a great consensus about the opportunities ahead.

“Today more than ever trust is a decisive currency in the Cybersecurity market and Utimaco is in an excellent position to accelerate its success further.”

Pinova is a Munich-based private equity firm, which makes investments of €3m to €15m in engineering and services businesses based in the German speaking part of Europe.

It is focused on companies with revenues of between €5m and €75m.

other companies backed by Pinova include online fabric and textile retailer fabfab.

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