Security start-up Rhebo gets new owner

The new shareholder will be the Swiss company Landis+Gyr.

Gas trading group VNG has sold its stake in Leipzig-based cybersecurity start-up Rhebo. Measurement technology provider Landis+Gyr will become the company's new owner. VNG Innovation had been a strategic partner in the industrial security start-up since 2018. Landis+Gyr will henceforth be the sole shareholder in Rhebo GmbH, as all other shareholders also sold their shares. The Swiss group intends to use Rhebo's IT security technology in its products. Nothing is known about the proceeds of the sale.

"Our goal is to invest in young, up-and-coming companies in the early seed phase in order to support them as a strategic partner on their growth path in the best possible way," write VNG managing directors Matthias Tischner and Andreas Päts. "Now we know that the young Leipzig-based company is in good hands with Landis+Gyr."

Founded in 2014, Rhebo is a cyber security service provider for producers and utilities in the gas, electricity and water sectors, as well as industrial customers. "With Rhebo's integration into Landis+Gyr's Advanced Metering Infrastructure, critical infrastructures worldwide will also have a secure solution to further digitize and automate their services," said Rhebo CEO Klaus Mochalski.