Pinova Capital, an independent Munich-based private equity firm and BIP Investment Partners, a Luxembourg-based holding company, today announced the acquisition of Utimaco Safeware AG, a software and hardware security business, in a buyout transaction.

Together with members of the management team, Pinova and BIP acquired Utimaco in September 2013 from Sophos, a UK based Software Security company. Utimaco will continue its development as an independent company led by its CEO Malte Pollmann and CFO Frank Nellissen. Management will be supported by a newly appointed advisory board.

The advisory board will be joined by Katrin Wehr-Seiter, Managing Director at BIP, and by Joern Pelzer, Partner at Pinova.

«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», comments Malte Pollmann, CEO Utimaco. «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.»