Rautenberg & Company advises INVISION and PINOVA on the acquisition of Utimaco TS GmbH

Our team advised INVISION and PINOVA on the acquisition of Utimaco TS GmbH. Closing of the transaction took place in September 2025.

INVISION is one of the leading mid-market investors for individual succession solutions as well as growth financing in Europe with a focus on the DACH region. Since its foundation in 1997, INVISION has supported more than 70 companies in realising their growth and invested more than EUR 1 billion. The team focuses on medium-sized companies with sales of EUR 25 million to EUR 200 million, sustainable profitability and a strong market position.

PINOVA is an independent private equity company that invests in industrial tech companies (high tech components, innovative materials and smart systems) in the German-speaking region through its managed funds. PINOVA focuses on mid-sized companies with revenues between EUR 10 million and EUR 50 million characterised by significant growth potential, sustainable competitive advantages, and a strong market position in their niche.

Utimaco TS is a leading provider of high-security software solutions specialising in lawful interception and compliance technology. Headquartered in Aachen, Germany, the company is widely recognised as a reliable and innovative network technology provider. Utimaco TS offers a broad range of mediation and interception systems and has a strong track record supporting evolving network technologies. With a global presence across Europe, MEA, and APAC, Utimaco TS delivers trusted, future-ready security solutions to telecom operators worldwide.

Our team supported INVISION and PINOVA in the acquisition process by conducting a Commercial Due Diligence.