Thematic investment firm Summa Equity has acquired a majority stake in German FAST LTA GmbH, a SaaS provider of secure and compliant data storage.
Headquartered in Munich, Germany with around 100 employees, FAST LTA offers cutting edge high-security storage for archiving and backup & recovery of business critical and sensitive data. The company made €25M in revenue over the course of 2023.
Summa’s thematic areas of focus are resource efficiency, changing demographics and tech-enabled transformation. The acquisition will allow FAST LTA to prioritise growth and international expansion with a deep network. The firm's strong reputation has secured an extensive network of over 40 high-profile technology partners and more than 60 resellers.
“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,” commented Steffi Körner, CEO at FAST LTA.
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