Playtech Founder Goes All in for Kape Technologies

Teddy Sagi

Playtech founder and billionaire Teddy Sagi has made a bid to acquire software provider Kape Technologies, offering £1.25 billion to take full control of the cyber security firm which was valued in early December 2022 at 265p per share.

It is reported Sagi has offered now 285p per share to full purchase the company that is listed in the UK share markets.

Kape Technologies was initially a technology advertising business but has moved more into cyber security and VPN services.

Sagi already owns 54.8% of Kape and believes returning it into a private company is in the best interests and value of the firm given the current climate in the city towards technology firms.

Sagi said in an interview on Kape: ‘Having weighed the pros and cons of a public listing under the current macro uncertainties and thin stock market trading as well as new growth avenues, we are firm in our view that Kape’s next chapter in its corporate journey should be within the private arena.

‘We are committed to Kape’s further growth within our group of companies, enabling it to exploit operational synergies and to access capital for its continuous growth, especially as the convergence of technologies is gaining momentum.’

At present Kape has said that is a valuating the offer with shareholders and has not made a final decision.