Kape Technologies plc (LSE: KAPE), which provides cybersecurity solutions, has raised. The company has $36.4 million in its coffers as of the end of June 2019. Shiri Habib-Valdhorn Last year, Kape Technologies paid 936 million to acquire US company ExpressVPN. Kape reported revenues of $29.9 million for the first half of 2019, a 24.2% increase year-over-year, and an EBITDA of $5.8 million, up from $4.7 million in the first half of 2018. The company listed on the London Stock Exchange's AIM market in 2014 and currently has a market capitalization of $142 million. Playtech founder and Camden Market part-owner Teddy Sagi has bid to acquire the remainder of cybersecurity business Kape Technologies in a deal that values the entire company at 1.25. Kape operates in 160 countries and employs 300 people, 70 of them in its Israeli research and development center. Kape, founded in 2011, is a cybersecurity company developing online security, privacy, and autonomy products. My loyalty did waver a bit when Kape Technologies and the infamous Teddy Sagi (look him up, a real colorful persona who was sentenced to prison for bribery and fraud among other things) acquired the company. Kape also said it expects annual cost savings of up to $4.5 million following infrastructure reductions. LTMI's revenues for 2018 stood at $47.4 million, an 18% increase year-over-year, and its adjusted EBITDA was $14.7 million. The company forecasts revenues of between $120 million and $123 million for 2020 for the merged entity, and an EBITDA of between $35 million and $38 million. According to the announcement, half of LTMI's million-plus subscribers are in the U.S., which will make Kape the largest player in the sector in the country following the acquisition. Kape has stated the acquisition will enable it to cement itself as a leading player in the privacy sector.įollowing the acquisition, Kape expects to double its number of paying clients to over two million. The rest of LTMI's assets also pertain to online privacy. When ExpressVPN first announced that it was being bought by London-based Kape, our biggest concern was that the VPN would be forced to share customer registration data with Kape - outside of. Kape will finance 35 million for the company and about 85 million of the cash part will be financed by Kape through a bridging loan from the controlling shareholder, businessman Teddy Sagi. I do have concerns about this because Kape was once considered a malware provider. Kape is acquiring Webselenese for 116.6 million in cash and 32.5 million in new shares which will be issued to the shareholders of Webselenese. PIA, which specializes in digital encryption and virtual private networks (VPN), employs 65 people, a third of them in research and development. The first item is that Kape Technologies has announced plans to acquire ExpressVPN for 986 million.
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