Private Internet Access, a popular VPN provider, is expected to have a new owner, after Kape Technologies announced plans to acquire PIA's parent company (and creator), LTMI Holdings (London Trust Media).
The deal is worth € 95.5 million, according to a report by Vox Markets, consisting of € 52.9 million in cash and the issuance of more than 42.7 million new Kape shares, which will also repay London Trust Media's existing debt. € 32.1 million (giving LTMI the total value of € 127.6 million in the acquisition).
Kape describes itself as a cybersecurity company focused on improving digital consumer protection. This transaction has already bought two other top-tier VPN providers, namely ZenMate (acquired last year) and CyberGhost (acquired last year).
Clearly, Kape really wants to gobble up the territory of VPNs and the company notes that PIA has more than a million paying customers, with nearly half of them located in the United States. Joined.
This will double Kape's existing user base of more than two million paid subscribers worldwide.
Name changer
Assuming the acquisition goes as planned, subject to normal regulatory approval, it should be finalized in early 2020, and Kape says it will be called Private Internet Access later.
Ido Erlichman, CEO of Kape, commented: "This transaction is fulfilling our vision by creating one of the largest privacy companies in the world. In an acquisition, I believe we have positioned Kape to quickly become one of the leading privacy providers. in the world, enabling consumers to manage their own data and their digital security. "
Private Internet access includes, in addition to the core business of virtual private networks, many other channels, including an encrypted search engine (Private.sh) and a browser dedicated to confidentiality called LibreBrowser.
When we looked at private internet access, we were very impressed with the VPN. Therefore, it is not surprising that this service is the culmination of the list of the best VPN providers.