Summa Equity acquires FAST LTA, a leading German provider of secure data storage and archiving solutions
STOCKHOLM, MAY 2ND: The thematic investment firm Summa Equity (“Summa”) has acquired a majority stake in FAST LTA GmbH (“FAST LTA”) with the ambition of building a new sustainable champion in secure and compliant data storage.
Headquartered in Munich, Germany with around 100 employees, FAST LTA is a solution provider offering cutting edge high-security storage for archiving and backup & recovery of business critical and sensitive data. The protection of valuable data is a fundamental right[1] that is increasingly under threat. With both software and hardware solutions to ensure protection against e.g., ransomware and other cybersecurity challenges, FAST LTA specializes in providing zero loss storage solutions. The revenue of the company was EUR 25m in 2023 with a strong growth projection.
Investing from its EUR 2.3bn Article 9 Fund III, the acquisition builds on Summa's proven track record of shaping portfolio companies' value creation strategy to drive long-term value and solve pressing global challenges.
"Critical industries like healthcare and the public sector are confronted with an escalating challenge in an age of growing data quantity and complexity as well as an increasing number of cyber-attacks, and FAST LTA offers a compelling technology solution to solve these challenges. By investing in FAST LTA, we further increase our efforts to partner with companies that help address crucial (cyber)security challenges, a core thematic focus within our tech investment strategy.”
Summa’s acquisition will allow FAST LTA to continue the strong historic growth trajectory while exploring adjacent and international growth opportunities. This will further strengthen the competitive edge of FAST LTA and position the company as a champion for highly secure and compliant data storage and archiving solutions. The company’s strong reputation has secured an extensive network of 40+ high-profile technology partners and 60+ reputable resellers. FAST LTA differentiates itself from other data protection providers by having highly secure technologies at an attractive total cost of ownership with an unparalleled reputation as the trusted partner of choice for for businesses that need to protect their valuable data against miss-use and loss.
“Cyber-attacks are far from going away, and companies and organizations need to protect their sensitive data against leaking, manipulation, or loss. Our unique combination of hardware, software and services provide best-in-class data protection and data privacy. With the help of Summa, we are committed to further strengthen our relationships with customers and partners, continue to innovate for the benefits of providing secure storage solutions, and expand to offer our solutions in new markets. We are proud to be chosen by Summa, known as very tech-savvy and eco-aware investors.”
”Balancing the need for data security with environmental sustainability requires a holistic approach, where innovation meets regulatory compliance to pave the way towards resilient, energy-efficient data ecosystems. While securing the highest level of data protection, FAST LTA’s customers have the possibility of saving more than 70% in energy consumption compared with similar solutions, depending on the use case.”
The acquisition of FAST LTA is being made within Summa’s Tech-Enabled Transformation investment theme and contributes positively to UN Sustainable Development Goal #16.10 and #13.2.
The acquisition is pending regulatory approvals and is expected to close in June.
About FAST LTA
FAST LTA is the specialist for secure secondary and long-term storage systems for sensitive data. The combination of durable and low-maintenance hardware, integrated data protection and on-site service contracts with a term of up to 10 years ensures long-term, cost-effective storage of data from archive and backup applications. In-house developments such as local erasure coding, sealing using hardware WORM and efficient energy management help medium-sized customers to protect themselves against data loss due to ransomware attacks and misconfiguration and to comply with regulatory and legal requirements (GDPR). The solutions from the Munich-based provider have proven themselves in thousands of installations in healthcare, public administration, services and industry & commerce. http://www.fast-lta.de/en
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