Israeli cybersecurity company Kape Technologies plc (LSE: KAPE) has signed an agreement to provide its digital privacy solutions to Hutchison's mobile operator 3 Hong Kong.
Under the terms of the agreement, the company will provide the VPN solutions of its PIA subsidiary to 3 Hong Kong customers. This is PIA's first cooperation deal with a telecom company. PIA's VPN solutions will be available to 3 Hong Kong's three million customers, who can register for services directly with 3 Hong Kong.
Kape acquired US company PIA in December 2019. PIA provides digital data encryption services, mainly for web privacy. The consolidated company has become the biggest player in its field in the US and worldwide is one of the world's leading three players in this area.
After the consolidation between the two companies took place towards the end of 2020, Kape began reporting its results based on two areas of activity: digital security, including the optimization and protection products for the aforementioned malicious software; and digital privacy including its own and PIA's web privacy products. As a result of the consolidation, Kape has become the leading supplier of digital privacy software for consumers, the main aim of which is to protect the consumer and the personal information managing their digital lives.
3 Hong Kong, which operates under the Three brand, is the mobile division of the telecom giant Hutchison, which is part of the Hutchison Group, which is listed as a Fortune 500 company - one of the world's largest 500 companies. 3 Hong Kong has three million customers in Hong Kong alone and 130 million customers worldwide.
Kape CEO Ido Erlichman said, "We are delighted to announce this agreement with 3 Hong Kong, which marks a first of its kind for Kape. We anticipate that with 3 Hong Kong’s distribution capabilities and unique market positioning, coupled with PIA’s brand recognition and tier one product, that we will successfully increase our product penetration in Hong Kong. This agreement is further evidence of the growing awareness and demand for privacy products amongst consumers and brands globally."
Kape currently has a customer base of 2.6 million paying subscribers in the main markets in which it operates - North America and Europe. The company 430 employees in eight countries, and its main development center is located in Tel Aviv.
Published by Globes, Israel business news - en.globes.co.il - on July 15, 2021
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