McLEAN VA / ACCESSWIRE / August 3, 2022 / Cyren Ltd. (NASDAQ:CYRN), a provider of next-generation email protection and embedded threat detection solutions, today announced that it has completed the previously announced divestment of its legacy secure email gateway business to Content Services Group GmbH for €10,000,000 of gross cash proceeds. The sale will enable Cyren to focus on its core business and strategic growth opportunities to deliver more value to both its customers and shareholders.
“This divestment will improve our balance sheet and allow Cyren to focus on products and market opportunities that will best help us grow our revenues” said Brett Jackson, Cyren’s Chief Executive Officer. “We will concentrate on continuing to build momentum with our enterprise anti-phishing product, Cyren Inbox Security, as well growing our core threat detection business.”
Cyren (NASDAQ:CYRN) protects more than a 1 billion users around the world from sophisticated and emerging email-, malware-, and web-based cyber-attacks every day. Our embedded threat detection, threat intelligence and inbox security solutions help enterprises, service providers, and technology companies prevent breaches and eliminate countless hours of incident response. Learn more at www.cyren.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, and statements including words such as “expect,” “plan,” “estimate,” “anticipate,” or “believe” are forward-looking statements, including statements regarding expectations that Cyren Inbox Security will be the key driver of future growth, expectations regarding developing a high-growth enterprise revenue stream that will materially contribute to Cyren’s results and expectations regarding our products, including Cyren Inbox Security. These statements are based on information available at the time of the press release and the company assumes no obligation to update any of them. The statements in this press release are not guarantees of future performance and actual results could differ materially from…