- Jan 25, 2016
- 219
Private Internet Access, a popular VPN provider, is set to have a new owner, after Kape Technologies announced its intention to acquire the parent company (and creator) of PIA, LTMI Holdings (London Trust Media).
The deal is for $95.5 million according to a report by Vox Markets, consisting of $52.9 million cash, and the issue of over 42.7 million new Kape shares which will also pay off London Trust Media’s existing $32.1 million debt (making the total enterprise value of LTMI $127.6 million in the acquisition).
In 2017 Knapp sold CyberGhost to an Israeli company called Crossrider for €9.2 million. Crossrider changed its name to “Kape Technologies” in 2018
Then in October 2018, Kape purchased Zenmate, a Germany VPN provider, for an undisclosed amount. This lines up with the trend we’ve observed of VPNs getting bought up by outside investors. It is the consolidation of the VPN industry.
According to online sources (URL: here, here), Kape Technologies has a shady past and is known to have made malware in the past so YMMV.
The deal is for $95.5 million according to a report by Vox Markets, consisting of $52.9 million cash, and the issue of over 42.7 million new Kape shares which will also pay off London Trust Media’s existing $32.1 million debt (making the total enterprise value of LTMI $127.6 million in the acquisition).
In 2017 Knapp sold CyberGhost to an Israeli company called Crossrider for €9.2 million. Crossrider changed its name to “Kape Technologies” in 2018
Then in October 2018, Kape purchased Zenmate, a Germany VPN provider, for an undisclosed amount. This lines up with the trend we’ve observed of VPNs getting bought up by outside investors. It is the consolidation of the VPN industry.
According to online sources (URL: here, here), Kape Technologies has a shady past and is known to have made malware in the past so YMMV.
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