Successful public offer by Teddy Sagi for Kape Technologies
08:45 - 09 May 2023
Unikmind Holdings Limited, a company owned by the Israeli and Cypriot businessman Teddy Sagi, announced the successful public offer for the acquisition of Kape Technologies Plc, valuing Kape at $1.6b. The public offer, the first that took place this year in the London Stock Exchange (LSE), aims to take Kape private and delist it from the AIM market of the LSE (“Public to Private Offer”). The transaction is one of the largest of the past few years.
Teddy Sagi has a reported net wealth of $5.6b according to Forbes, which ranks him 6th in the billionaires list of the Israeli Forbes.
The execution of the transaction was coordinated by the Family Office of Teddy, Globe Invest Limited, which is headquartered at its Labs Tower, located at the heart of Nicosia. The Chief Executive Officer of the Family Office, Marios Hadjiyiannakis, supported by Chief Investment Officer Georgios Fereos and the Head of Legal and Unikmind Director Antigoni Fakonti, led the negotiations and execution of the transaction, supported by other members of the Family Office in Nicosia and London.
HSBC acted as the sole financial advisor and financing bank providing financing of $619m to Unikmind. Baker McKenzie acted as the legal advisor to Unikmind.
Kape is a leading global ‘privacy-first’ digital security software provider to consumers. Through its range of privacy and security products, Kape focuses on protecting consumers and their personal data as they go about their digital lives. The company offers a wide range of products such as the well-known premium VPN solution ExpressVPN, as well as CyberGhost and Private Internet Access, among other solutions. Kape employs approximately 1,400 persons in ten countries and has approximately 7.4 million clients worldwide.
The acquisition is expected to be fully completed by the end of May.