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Word on the street is that PIA (Private Internet Access), the VPN that most know, and many love, has been sold.
The buyer of PIA is purportedly Kape Technologies, who announced their intention to buy the parent company of PIA, LTMI Holdings (London Trust Media).
The deal comes in at a reported $95.5MM valuation, consisting of $52.9MM in cash, and $42.7MM in Kape Technologies shares. As part of the deal, Kape Technologies has also agreed to pay off $32.1MM of debt that LTMI owes, which brings the total value of the deal to a whopping $126.7MM.
There is no word on precisely what Kape plans on doing with this acquisition, but the company has been on a VPN buying frenzy, having bought up CyberGhost and ZenMate within the past two years.
From what information is available, it does appear that Kape will retain the PIA namesake going forward.
With privacy becoming more and more scarce these days, it's interesting to see the owners of PIA sell their stake in the business.
The buyer of PIA is purportedly Kape Technologies, who announced their intention to buy the parent company of PIA, LTMI Holdings (London Trust Media).
The deal comes in at a reported $95.5MM valuation, consisting of $52.9MM in cash, and $42.7MM in Kape Technologies shares. As part of the deal, Kape Technologies has also agreed to pay off $32.1MM of debt that LTMI owes, which brings the total value of the deal to a whopping $126.7MM.
There is no word on precisely what Kape plans on doing with this acquisition, but the company has been on a VPN buying frenzy, having bought up CyberGhost and ZenMate within the past two years.
From what information is available, it does appear that Kape will retain the PIA namesake going forward.
With privacy becoming more and more scarce these days, it's interesting to see the owners of PIA sell their stake in the business.