Riverside buys Danish cybersecurity firm Cryptomathic

The GP will be supported by its institutional co-investors on the deal and will be an owner alongside Cryptomathic's founder and management team, who will continue to hold key management positions and a minority stake in the business.

Riverside will invest in further international growth, product development, and in the sales and marketing functions of the company, and also assess add-on opportunities in the cryptography space.

The PE firm is currently deploying equity from Riverside Europe Fund VI fund, which held a final close in March 2021 on €465m.

Company
Founded in 1986 and based in Aarhus, Cryptomathic is a provider of security software. Its products include key management, e-signature and authentication functionality, mobile app security and EMV to a global customer base primarily in banking and other financial services sectors. Cryptomathic holds 30 patents, and has 50-200 staff, according to its LinkedIn page.

People
The Riverside Company – Karsten Langer (managing partner); Michael Weber (senior partner).

Advisers
Equity – Bech Bruun (legal); Allen & Overy (legal).
Company – EY (corporate finance); Horten (legal).

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