26th Nov 2018 13:00
LONDON (Alliance News) - Security software group Kape Technologies PLC said on Monday it has made progress on the integration of its most recently acquired businesses.
The integration of cybersecurity and malware protection business Intego, acquired in July for USD16 million, has progressed ahead of management expectations. The implementation of Kape's user acquisition technology with Intego is set to have a positive impact from the first quarter of 2019, the company said.
Also, Kape has launched cross-promotion campaigns between its own business CyberGhost's Virtual Private Network and Intego's software, with early signs on strong traction across both products being shown.
In addition, Kape has completed the restructuring of multi-platform security software business ZenMate, acquired by Kape in October for EUR5 million. Since its purchase, ZenMate has performed ahead of Kape's expectations, it said, and is set to be earnings enhancing from the first quarter of 2019.
"The strong performance of these businesses since their acquisition further demonstrates our ability to both source and integrate acquisitions that provide synergistic benefits to the group. We look forward to delivering further improvements as we continue to leverage our customer acquisition methodologies and further broaden our unique user base to generate additional cross-selling opportunities," said Chief Executive Officer Ido Erlichman.
Shares in Kape Technologies were up 3.7% at 102.92 pence on Monday.
Related Shares:
KAPE.L