v.l.: Klaus Mochalski (CEO Rhebo) und Kristin Preßler (COO Rhebo) mit Andreas Müller (Investment Director TGFS)
TGFS sells shares in Rhebo GmbH to Landis+Gyr.
28 January 2021
Landis+Gyr (LAND:SIX) announced today that it has acquired Rhebo GmbH, a portfolio company of TGFS Technologiegründerfonds Sachsen. Upon completion of the acquisition, Rhebo will become a wholly owned subsidiary of the Swiss group. The strategic buyer, Landis+Gyr, is a global leader in integrated energy management solutions for the power industry and with Rhebo, it is now integrating a suitable target into the group as a provider of IoT cybersecurity products and solutions.
Rhebo’s business model is to ensure the stability and cybersecurity of OT and IoT infrastructure in industrial, energy and water companies. With its industrial monitoring solutions and services, the Leipzig-based technology company monitors data communication within the control technology and on decentralized IoT-enabled components. Attacks, vulnerabilities and technical faults are reliably reported in real time. In this way, the startup specifically supports operators of industrial control systems, network control technology and control systems in increasing the cybersecurity, productivity and availability of their plants and ensuring the digital transformation of their processes.
Since the summer of 2016, TGFS has been actively supporting the company’s development together with other financial investors, including eCAPITAL from Münster. The team has succeeded in accelerating software development. It has built up sales and convinced customers in the critical infrastructure sector to use the solution. In the meantime, Rhebo’s customer base includes renowned network operators such as Stadtwerke Hamburg and Leipzig as well as the energy storage manufacturer Sonnen GmbH.
With this acquisition, Landis+Gyr is expanding its cybersecurity business strategy and aims to bring the benefits of this technology to its customers. „We look forward to the new phase of growth that being part of the Landis+Gyr Group will enable us to achieve,“ says Klaus Mochalski, founder and CEO of Rhebo. He adds, „We would like to thank our investors for the trust they have placed in us, as well as for the close cooperation with many of our peers.“
For the TGFS, which has supported more than 80 founders and start-ups in the Free State of Saxony since 2008 in what is currently the second generation of funds, this is the first exit this year. „A big thank you goes to the founding team of Rhebo, with whom we have been working in a spirit of partnership and trust for five years, as well as to SpinLab, an important strategic partner of TGFS for many years,“ says Sören Schuster, Managing Director of TGFS. Commenting on the transaction, he adds „Reliability and security are the key risks in an increasingly connected industry. Companies like Landis+Gyr recognize the importance of protecting their IoT devices and infrastructure. They are right torely on Rhebo’s technological capabilities. For the further growth projects at the Leipzig site. We wish the team continued success under the now new shareholder flag!“
Deal team TGFS