The cyber security joint venture was launched in 2012 to make technology for secure applications like fingerprint scanners and payments
A cyber security business spun out of Cambridge chip company Arm has been snapped up by a private equity firm founded by Conservative Party donor Edmund Lazarus.
Trustonic, which makes security technology for smartphones and apps that is used on two billion devices, was acquired by buyout fund EMK Capital.
No financial details were disclosed, although Trustonic’s last financing valued the spin-off business at about £60m. EMK says it typically invests up to £100m in portfolio firms.