We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kape Technologies Plc | LSE:KAPE | London | Ordinary Share | IM00BQ8NYV14 | ORD USD0.0001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 285.00 | 279.00 | 285.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKAPE
RNS Number : 1187E
Kape Technologies PLC
16 October 2018
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
16 October 2018
Kape Technologies plc
("Kape" or the "Company")
Acquisition of ZenMate for EUR4.8 million
Extending Kape's reach in VPN SaaS provision
Kape (AIM: KAPE), the consumer security software business, is pleased to announce the acquisition of the entire issued share capital of ZenGuard GmbH and ZenMate ("ZenMate"), a multi-platform security software business with a focus on the provision of virtual private network ("VPN") solutions, for a total consideration of EUR4.8 million (the "Acquisition").
ZenMate is a digital privacy company, headquartered in Berlin, focused on encrypting and securing internet connections and protecting individuals' privacy and digital data.
The Acquisition is highly complementary to CyberGhost, Kape's existing VPN solution, and will deepen the Company's presence in Europe and Germany in particular. ZenMate currently has 50,000 premium customers on a SaaS-basis with a strong retention rate, which will further broaden cross-selling and up-selling opportunities across the Company's product portfolio.
As part of the integration of the Acquisition, Kape will implement an extensive restructuring plan intended to transition ZenMate from a loss of EUR1.1 million in the year to 31 December 2017 to profitability in the next quarter. This plan includes leveraging existing operational synergies, including utilising Kape's technology infrastructure and extending its user acquisition capabilities.
It is anticipated that the Acquisition will be earnings accretive in the first full year of ownership. As ZenMate's current marketing initiatives are primarily organic, there is significant potential to utilise Kape's digital marketing expertise in order to accelerate user acquisition and increase margins.
ZenMate is being acquired from a number of venture capital funds and private investors, including the founders of the business, for a total consideration of EUR4.8 million in cash, funded from Kape's internal cash resources, to be satisfied on closing of the Acquisition.
Ido Erlichman, Chief Executive Officer of Kape, commented:
"The provision of data protection solutions is a key focus for Kape, with the market expected to continue its double digit growth in the coming years. We are therefore delighted to add ZenMate to our existing portfolio as it is highly complementary, strengthens our presence in Europe and expands our SaaS user base.
Kape continues to trade strongly and is confident the acquisition of ZenMate will further support the Company's growth ambitions."
Enquiries:
Kape Technologies plc via Vigo Communications Ido Erlichman, Chief Executive Officer Moran Laufer, Chief Financial Officer Shore Capital (Nominated Adviser & Broker) Toby Gibbs / James Thomas +44 (0)20 7408 4090 Vigo Communications (Financial Public Relations) Jeremy Garcia / Antonia Pollock kape@vigocomms.com +44 (0)20 7390 0237
About Kape
Kape is a cybersecurity company focused on helping consumers around the world to have better experience and protection in their digital life. Kape develops and distributes a variety of digital products in the online security space. The Company utilises its proprietary digital distribution technology to optimise its reach and create a superb user experience. Kape offers products which provide online security, privacy and an optimal online experience. Kape's vision is to provide online autonomy for a secure and accessible personal digital life, with team of over 350 people across seven locations worldwide.
www.kape.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
ACQEAEESFLFPFAF
(END) Dow Jones Newswires
October 16, 2018 02:01 ET (06:01 GMT)
1 Year Kape Technologies Chart |
1 Month Kape Technologies Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions