Arm disposes of cybersecurity business
Arm has sold its cybersecurity business Trustonic to private equity firm EMK Capital.
The Cambridge-based chip-making giant founded Trustonic, which develops security for mobile devices and apps, in 2012 as a joint venture with Dutch cybersecurity firm Gemalto.
Trustonic’s tech is used in more than two billion devices.
Recently valued at around £60m, Trustonic made a €8.6m pre-tax loss on revenue of €9.7m in 2018, the most recently available results.
EMK was founded by Conservative Party donor Edmund Lazarus in 2017 and recently acquired a majority stake in Williams Advanced Engineering.