EMK acquires Trustonic

Katharine Hidalgo
02 March 2020

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EMK Capital Partners has wholly acquired cyber security products and services provider Trustonic.

The GP is currently investing from its debut buyout fund, which closed on £575m in May 2017. It generally invests a maximum of £100m in its portfolio assets.

An auction process had been ongoing since October 2019, with several bidders vying for it, according to publicly available documents.

EMK has committed to providing growth capital to support the growth strategy of the business. Trustonic had deferred consideration of €9.7m owed to its shareholders at the end of 2019, according to the company's accounts.

Dion Price has been appointed CEO as part of the transaction.

EMK most recently acquired a majority stake in technology and engineering services business Williams Advanced Engineering for £47.7m in December 2019.

Previous funding
Launched in 2012, the company was previously a joint venture, owned by Softbank-backed microchip manufacturer ARM and payments technology company Gemalto, which was acquired by Thales in April 2019. Each shareholder owned a 50% stake and funded the company through capital investments.

Company
Established in 2012, Trustonic is a provider of cyber security products and services for protecting mobile apps, smartphones, wearable devices, health technology, and automotive systems. Based in Cambridge, the company employs around 80 people.

In 2018, the company generated a pre-tax loss of €7.5m from revenue of £9.9m. The previous year, the company reported a pre-tax loss of €7.4m from revenue of €10.3m.

People
Trustonic – Dion Price (CEO).