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.