Spyware Firm NSO Mulls Shutdown of Pegasus Unit, Sale of Company
NSO Group, the scandal-plagued spyware company that's in danger of defaulting on its debts, is exploring options that include shutting its controversial Pegasus unit and selling the entire company, Bloomberg News reported Monday, citing people familiar with the matter. From the report: Talks have been held with several investment funds about moves that include a refinancing or outright sale, said the people, who asked not to be identified as the discussions are private. The company has brought in advisers from Moelis & Co. to assist, and lenders are getting advice from lawyers at Willkie Farr & Gallagher, the people said. The prospective new owners include two American funds that have discussed taking control and closing Pegasus, one of the people said. Under that scenario, the funds would then inject about $200 million in fresh capital to turn the know-how behind Pegasus into strictly defensive cyber security services, and perhaps develop the Israeli companys drone technology, one of the people said. Pegasus software can track a user's mobile phone, and its misuse has landed NSO at the center of high-profile privacy abuse cases. The product allegedly was supplied to governments that used it to spy on political dissidents, journalists and human right activists.
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