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JERUSALEM, Sept. 13 (Reuters) – Anglo-Israeli digital security software provider Kape Technologies PLC (KAPE.L) announced on Monday that it was buying virtual private network (VPN) company ExpressVPN for $ 936 million in the part of a deal to create what he called a “leading player in consumer privacy and security.”
Kape said the acquisition expands its customer base to over 6 million from nearly 3 million and would create a leading digital privacy and security company best positioned to capitalize on expected market growth.
ExpressVPN, he said, has experienced a compound annual growth rate (CAGR) of 35.1% over the past four years amid strong demand for user-friendly data privacy and security products.
Consumers have increasingly turned to VPNs like ExpressVPN to hide their identities on the internet.
“Controlling your digital presence is now at the forefront of the minds of every technology consumer, and Kape is more than ever committed to innovating and providing the tools Internet users need to protect their data and their rights,” said said Ido Erlichman, CEO of Kape Technologies.
Dan Pomerantz, co-founder of ExpressVPN, said the company will have more capital and resources to “accelerate the development of our products, deliver even more innovation to our users and protect them from a wider range. threats “.
Kape said that ExpressVPN will continue to operate day-to-day as an independent service.
Reporting by Steven Scheer, editing by Louise Heavens
Our Standards: The Thomson Reuters Trust Principles.
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