Benzinga | Aug 13, 2021 11:54AM EDT

EQT Private Equity Divests Cybersecurity Firm Utimaco To SGT For $500M

* EQT Private Equity has agreed to sell a majority stake in cybersecurity company Utimaco to private equity firm SGT Capital.

* The deal is worth $500 million, Bloomberg reports.

* EQT will remain a minority investor in Utimaco.

* Utimaco develops security hardware for managing sensitive data, distributing cryptographic keys, and compliance solutions for telecommunication providers.

* The transaction is likely to close in Q4.