BayBG buys minority stake in SSP Europe

The firm will use the fresh capital to strengthen its product development as well as its marketing and sales departments.

BayBG invested in SSP Europe because it sees great potential in the data security sector, which received a lot of attention in the German-speaking region after the recent NSA spying scandal, the GP said.

Business angels Alexander Brühl and Daniel Mähler invested alongside BayBG.

The financing round for SSP Europe is the third investment in the data security sector in the DACH region in October alone. Pinova and BIP recently teamed up to buy Utimaco Safeware, a cyber security provider, in a management buyout. Moreover, Swiss venture capital house QWave Capital backed ID Quantique, a network security provider.

Company
SSP Europe provides IT security solutions, such as secure data exchange, email traffic, online back-ups, firewalls, virus protection and spam filters.

The company currently provides services to more than 1,000 clients, including McDonalds, K2 and Völkl. Businesses such as Hutchison 3G Austria, Bechtle and Fujitsu distribute SSP Europe's cloud-based solutions under their own brands.

The firm is based in Munich, with an additional German office in Regensburg. SSP Europe also operates plants in Spain and Austria. Overall, the company employs 60 staff.

People
Andreas Heubl is investment manager at BayBG. Dieter Steiner is the CEO of SSP Europe. Marcus Gulder is the head of venture capital investments at BayBG.

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• Topics
• DACH
• Technology
• Expansion
• Germany
• Bayerische Beteiligungsgesellschaft mbH (BayBG)