KAPE.L Share News (KAPE)

(Alliance News) - Kape Technologies PLC said Thursday the integration of virtual private network ZenMate has saved the company USD1.7 million in annualised costs.

In October, Kape acquired ZenGuard GmbH and ZenMate for EUR4.8 million in cash. ZenMate is a Berlin-based digital privacy company focused in securing internet connections to protect individuals privacy data.

Following completion of the deal, Kape said it has launched ZenMare Ultimate app, an update to the company's VPN platform and ZenMate Pulse. a web firewall extension.

"We are delighted with ZenMate's progress since the completion of its integration into the group. It is proving highly complementary to CyberGhost in its target geographies and demographic. The launch of both ZenMate Ultimate and ZenMate Pulse should further increase Kape's addressable market in the privacy-led cybersecurity space, and is an excellent example of how we continue to organically invest in our products," said Chief Executive Ido Erlichman.

In early May, at the company's annual general meeting, Chair Don Elgie said trading had remained in line with expectations following a "strong" start to 2019.

Elgie explained Kape had experienced a "strong" start to calendar 2019 which has seen "significant progress" from across the business.

Kape explained that "ongoing progress" continues to be made in developing its software-as-a-service revenue base.

Shares in Kape Technologies were up 7.6% Thursday at 86.98 pence each.