Hack Read -
Kape Technologies is an Israeli cybersecurity firm that has bought ExpressVPN for $936 million.
Kape Technologies, a leading Israeli cybersecurity firm, has purchased ExpressVPN for nearly $1 billion. The company confirmed that the deal had been finalized for $936 million, out of which $237 million will be in the form of Kape’s shares to ExpressVPN’s co-founders Dan Pomerantz and Peter Burchhardt.
The co-founders will hand Kape Tech a 14% stake in their combined firm in exchange for shares, while the remaining amount will be paid in cash within the next two years. According to ExpressVPN co-founders, the company will still operate independently and continue to grow.
ExpressVPN and Kape’s Statements
The CEO of Kape Technologies, Ido Erlichman, stated in an official statement after securing the deal that they have admired ExpressVPN’s team’s continuous pursuit of “excellence and innovation” and are “excited to welcome them to Kape.”
The article Israeli firm Kape Technologies buys ExpressVPN raising privacy concerns originally appeared on Hack Read.