Kape Technologies Agrees to Buy ExpressVPN for $936 Million
Kape Technologies Plc agreed to buy ExpressVPN in a $936 million deal that will more than double the cybersecurity company's customer base and expand its tools for private web surfing. Bloomberg reports: Kape will pay $354 million in cash when the deal closes and the equivalent of $237 million in shares, which can be sold after a 24-month lockup, the company said in a statement on Monday. Another $345 million in cash will be paid in two installments, 12 months and 24 months after the close. The deal still needs approval from regulators.
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