Senetas to buy US$8m stake in global cybersecurity firm

Company News

by Jessica Amir

Data protection company, Senetas Corporation Limited (ASX:SEN) is set to buy a major stake in a cybersecurity company for US$8 million.

Senetas, which is a data encryption company, will make the investment in Votiro Cybersec Global, who has 400 global customers and 1.5 million users.

Its technology scans each and every file shared with a company, to allow people to safely open emails, download and transfer files and share content without comprise.

The investment will be made in three tranches.

Shares in Senetas Corporation Limited (ASX:SEN) last traded at 10.5 cents.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.