Unikmind has offered a price of $3.44 per each Kape share, which will value Kape Technologies at about $1.51bn
Kape Technologies is a digital security software provider. (Credit: Kris from Pixabay)
UK-based digital security software provider Kape Technologies has received a fresh takeover offer from Isle of Man-incorporated Unikmind.
Under the new offer, Unikmind offered to acquire the entire issued and to be issued share capital of Kape that is not already owned by it at $3.44, equivalent to 285 pence per Kape share.
The proposal values Kape Technologies at about $1.51bn.
Previously, in December 2022, Unikmind made an offer for Kape at 265 pence per share. The offer was rejected by the digital security software providers’ independent directors as it would have given insufficient value to shareholders.
Fully‐owned by Teddy Sagi, Unikmind presently owns nearly 54.8% of the issued ordinary shares of Kape Technologies.
Sagi has been quoted by Reuters as saying in a statement: “Having weighed the pros and cons of a public listing under the current macro uncertainties and thin stock market trading as well as new growth avenues, we are firm in our view that Kape’s next chapter in its corporate journey should be within the private arena.”
As a digital security software provider, Kape Technolgies offers a range of privacy and security products to consumers. The digital security solutions firm claims to have seven million paying users and more than 100 million readers globally.
Kape Technologies has urged its shareholders not to take any action on the new offer.