Global law firm Greenberg Traurig advised Cyren Ltd. (Cyren) on the sale of its legacy secure email gateway business to Content Services Group GmbH, a Germany-based software organization. The purchase price was 10 million euros in gross cash proceeds.
Cyren is a NASDAQ-listed cybersecurity company that operates worldwide. The sale will enable the IT company to focus on its core business and strategic growth opportunities to deliver more value to both its customers and shareholders, according to the company.
The completion of this transaction marks Content Services Group's acquisition of Cyren’s Email Security Gateway business. The company stated that it will continue to offer e-mail security to protect international companies from spam, phishing, and malware attacks.
Background: Between 2019 and 2022, Greenberg Traurig’s team in Tel Aviv and the United States advised Cyren as it successfully completed two private placements and two registered direct offerings in the United States. In addition, the firm’s team in Germany advised the company on its global compliance setup.