Security vendor Sophos has unveiled a €217m (£172m) bid for Utimaco Safeware in a bid to bolster its data protection capabilities.

The UK-based anti-virus giant has already reached an agreement with Germany-based Utimaco’s largest shareholder, Investcorp Technology Partners, to acquire its 24.99 per cent stake in the firm upon the offer becoming unconditional.

Sophos said the purchase would extend its security and control strategy at a time when data loss has joined viruses as a key concern for IT professionals.

Utimaco will be run as a separate business unit and will retain its SafeGuard product branding. The vendor provides a range of data security solutions for data at rest, data in motion and data in use, based around strong encryption and central security policy management, Sophos said.

Steve Munford, chief executive of Sophos, said: “Information security should be as commonplace as anti-virus protection – no longer a nice to have, but a must have. Companies of all sizes are looking to protect against both external and internal threats, with one manageable solution."

The intended 14.75 pence a share offer represents a 92 per cent premium on Utimaco’s latest closing price.