Archtis Reaches for Cipherpoint (ASX:CPT) software division
- archTIS (AR9) prepares to acquire the staff and European operations of a software division owned by fellow ASX-lister Cipherpoint (CPT) in a $1.4 million deal
- As part of the buy, AR9 would acquire intellectual property for “an advanced SharePoint data encryption solution” as well as a data discovery platform
- AR9 says the buy will assist in growing annual recurring revenues, which are currently estimated at $370,000
- AR9 will need to pay $1.4 million in cash with $200,000 of that amount held in escrow until certain contracts are updated
- The company shares were down 3.95 per cent to trade at 36.5 cents
