Zug, Switzerland - October 1, 2025 - Utimaco, a leading global provider of IT security solutions, today announced the sale of its Utimaco TS division to investment firms INVISION and PINOVA.
For many years, UTS has been supplying regulatory solutions to telecom operators. In particular, its Lawful Interception Management System (LIMS) has been widely used by telecommunications providers around the world in order to comply with law enforcement requirements for electronic surveillance. It is one of the world’s leading solutions in lawful interception and has contributed sustainably to the company’s growth with steady expansion and stable customer relationships.
Under the Utimaco-Holding umbrella, the Utimaco TS business had already been set up as one of two separate business units. To give UTS and the second business unit called Information and Data Security more focus and independence to develop their respective growth strategies, each tailored to different market needs, Utimaco decided to sell its Utimaco TS division to INVISION and PINOVA. PINOVA was an Utimaco shareholder from 2013 to 2022.
The transaction was completed on 30th September following regulatory approval. The new company is operating independently since 1st October 2025.
“UTS has been an important and valuable part of Utimaco’s development for many years, however, the synergies with our Information and Data Security business are limited. We believe separating the business units and allowing each to focus fully on their core competencies is the right step to optimally position both companies for the future,” said Stefan Auerbach, CEO at Utimaco. “With INVISION and PINOVA, two new owners have been found who understand and want to expand the value and potential of the Utimaco TS business. We are confident in the success of the new company and will remain connected to our former colleagues as partners in ongoing and new projects.”
"SGT Capital is pleased with the growth of Utimaco and is confident that this sale will strengthen both businesses as they are now able to fully dedicate their time and attention to their respective areas of growth, with Utimaco now being fully focused on Data Security and Cybersecurity,“ shared Joseph Pacini and Carsten Geyer, Co-Managing Partners of SGT Capital.
“INVISION and PINOVA share the same investment philosophy and corporate culture. We are pragmatic, committed, and see ourselves as partners to the companies we invest in. We have been in close contact with Utimaco TS for over a year and are therefore very familiar with the LIMS market and Utimaco TS. We are especially pleased to accompany Utimaco TS on its new path as an independent company outside the Utimaco Group in a phase when the business returns to its core and receives full attention and resources to further expand its market leading position,” said Peter Kroha, Partner and Managing Director Germany at INVISION.
“For nine years, PINOVA was part of the Utimaco Group and actively contributed to the company’s impressive growth during this time. We are all the more pleased that this exciting development continues: Together with INVISION and the Utimaco TS management, we will now focus on the Lawful Interception Management Systems business. These systems are a central component of modern telecommunications infrastructures and will continue to play a vital role in the future,” added Joern Pelzer, Founding Partner at PINOVA.
SGT Capital is a global private equity firm that generates top decile performance for its investors by driving the internationalization of mid-cap market leading businesses in combination with more traditional private equity value creation strategies. With offices and portfolio company presence in London (United Kingdom), Zug (Switzerland), Frankfurt (Germany), Dubai (UAE), Silicon Valley (CA, USA), and Singapore, SGT Capital is led by Joseph Pacini, Carsten Geyer, Dr. Marcel Normann, Jens Dino Steinborn and Marianne Rajic.
For more information, please see www.sgt-capital.com.
UTIMACO is a global platform provider of trusted Cybersecurity and Compliance solutions and services with headquarters in Aachen (Germany) and Campbell, CA (USA). UTIMACO develops on-premises and cloud-based hardware security modules, solutions for key management, data protection and identity management as well as data intelligence solutions for regulated critical infrastructures and Public Warning Systems. UTIMACO is one of the world's leading manufacturers in its key market segments.
500+ employees around the globe create innovative solutions and services to protect data, identities and communication networks with responsibility for global customers and citizens. Customers and partners in many different industries value the reliability and long-term investment security of UTIMACO’s high-security products and solutions.
Since its foundation in 1997, INVISION has developed into one of the leading mid-market investors focusing on growth companies in the DACH region and the Benelux. INVISION has invested more than EUR 1 billion in over 70 companies and targets sustainable growth driven by internationalization, the introduction of new products and services, digitalization of operations and selective add-on acquisitions. INVISION is an entrepreneurial partner to founders. In its investments, INVISION places particular emphasis on understanding the specific needs of entrepreneurs and developing individual solutions to adequately address these.
Further information can be found under www.invision.ch
PINOVA is an independent private equity company that invests in Industrial Tech companies (High Tech Components, Innovative Materials and Smart Systems) in the German-speaking region through its managed funds. PINOVA focuses on mid-sized companies with revenues between €10 million and €50 million characterised by significant growth potential, sustainable competitive advantages, and a strong market position in their niche.
For more information, please visit: www.pinovacapital.com
SGT Capital
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or by email: investors@sgt-capital.com