deviceTRUST: Strategic Acquisition by Cloud Software Group
Deal News | Dec 10, 2024 | High-Tech Gruenderfonds Manage
Cloud Software Group, through its business unit Citrix, has acquired deviceTRUST, a pioneering company in contextual security solutions. This acquisition represents a successful exit for the High-Tech Gründerfonds (HTGF), which was the first venture capital investor in deviceTRUST when it participated in the seed financing round in 2017. deviceTRUST, founded in 2016 in Darmstadt, Germany, focuses on enhancing endpoint security and ensuring that digital workspaces are accessible only by trusted devices with updated context information. The acquisition aligns with the rise of mobile work and the corresponding increase in IT security importance. Through this acquisition, Citrix aims to integrate deviceTRUST's technologies, broadening its secure access offerings. Key figures in the acquisition expressed optimism about the future and praised deviceTRUST’s foundational partnership with HTGF. HTGF, a leading early-stage investor, has over 2 billion euros under management and supports startups across deep tech, digital tech, and life sciences, amongst others.
Sectors
- Technology
- Venture Capital
- Cloud Computing
Geography
- Germany – deviceTRUST was founded in Darmstadt, Germany, and HTGF is a German early-stage investor, making this a key geographical focus.
- United States – Cloud Software Group, the parent of Citrix, is an American company, thus playing a significant role in this international acquisition.
Industry
- Technology – This industry is relevant as deviceTRUST and Cloud Software Group are involved in technology solutions, specifically in IT security and secure access technologies.
- Venture Capital – HTGF represents the venture capital industry as an early-stage investor in high-tech start-ups, including deviceTRUST.
- Cloud Computing – The acquisition focuses on enhancing secure access in cloud environments, making this a key aspect of the deal.
Financials
- Over 2 billion euros – Funds under management by HTGF.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| deviceTRUST | Target Company | Company | A start-up focused on enhancing endpoint security with contextual security solutions. |
| High-Tech Gründerfonds (HTGF) | Selling Company (Vendor) | Company | A leading early-stage investor in Germany backing deviceTRUST since its seed round. |
| Cloud Software Group Inc. | Bidding Company (Buyer) | Company | Parent company of Citrix, acquiring deviceTRUST to integrate its security technologies. |
| Citrix | Business Unit of Buyer | Company | A business unit of Cloud Software Group providing secure app and desktop delivery platforms. |
| Sascha Goeckel | Former CEO | Person | Former CEO of deviceTRUST commenting on the acquisition. |
| Dr. Tanja Emmerling | Partner | Person | Partner at HTGF commenting on their investment in deviceTRUST. |