The popular VPN service Private Internet Access has been sold. VPN company Kape Technologies pays 115 million euros for PIA. Kape Technologies also has other VPN services such as CyberGhost and Zenmate and certain security tools under it.
Kape Technologies has acquired PIA’s parent company LTMI Holdings, the company wrote in a press release. In addition to the VPN service, all kinds of other privacy-oriented applications from LTMI are also taken over, such as the LibreBrowser and the search engine Private.sh. Kape Technologies says the acquisition makes the company “the privacy company for consumers.” Private Internet Access is especially big in America, where the service has nearly half of its paying customers. Worldwide there are a million.
Kape pays a total of 127.6 million dollars or 115 million euros for the company. This happens in both cash and shares. Kape also takes over PIA’s debts. Private Internet Access is expected to make a profit for the first time from 2020. It is not yet known how the VPN service will operate within Kape Technologies in the future. Details about the acquisition will be announced later.