Hackread
September 14, 2021

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.”

“With ExpressVPN now part of the Kape family of world-leading privacy and security brands—together, we have the vision, talent, and resources to take the industry to the next level,” Erlichman noted.

On the other hand, Dan Pomerantz, co-CEO of ExpressVPN, said that the company would access more capital and resources with this deal. It will also accelerate its product development capacity and help them deliver more innovative products to its users as well as protect them from a “wider range of threats.”

“Together, we will advance the state of privacy technology, keeping you firmly in control of your digital experience even as new threats and challenges arise,” Pomerantz said.

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