It has recently been confirmed that Westcoast Limited have acquired a minority stake in Beyond Encryption as the latter looks to further develop its UK growth strategy, reports Information Age. The stake acquisition – which was brokered by PwC – has reportedly been fuelled by a recent global spike in cyber-threats.
Beyond Encryption’s, ‘Mailock’ – which offers additional end-to-end security as users communicate via email – has been highlighted as one of the company’s standout products.
Paul Holland, Chief Executive and Founder of Beyond Encryption, remarked: “The Westcoast investment is a major boost for our growth plans to distribute into new markets and develop new products.
“Importantly, BE and Westcoast share similar values, recognising the importance of our people in delivering technical excellence and helping our customers lead better and safer digital lives. Having a company the size and strength of Westcoast, as an investor, is an incredible compliment to the hard work the BE team have put in.”
Tim Armstrong, PwC Partner and Lead on the transaction, added: “We are pleased to have advised the shareholders of Beyond Encryption on this key milestone in the journey of an exciting business.
“The team have developed a fantastic suite of products, building on their deep expertise and experience.
“The partnership with Westcoast will facilitate an opportunity to further expand organically. We wish Beyond Encryption and Westcoast every success for the future.”
To read the full article, visit: https://www.information-age.com/westcoast-acquires-minority-stake-beyond-encryption-123493717/