Diginex to Acquire Findings for $305 Million
- Diginex will acquire Findings for $305 million in shares and cash.
- Expansion into compliance and cybersecurity automation.
- Muted market reaction to acquisition news.
Diginex Limited announced its plan to acquire Findings, an Israel-based compliance firm, for up to $305 million in shares and cash to expand its RegTech capabilities.
The acquisition highlights Diginex’s strategy to enhance its regulatory technology offerings, potentially impacting its market position despite initial muted reactions from investors.
Diginex Limited has signed an MOU to acquire Findings, a cybersecurity firm, for $305 million in shares and cash.
The acquisition aims to enhance Diginex’s cybersecurity and RegTech offerings, with minimal immediate market reaction reported.
Diginex Announces $305 Million Acquisition Deal
Diginex Limited has announced its intention to acquire Israel-based Findings for up to $305 million. The transaction includes $270 million in shares and $35 million in cash.
Findings specializes in cybersecurity and compliance automation, backed by Magenta Venture Partners. Diginex strengthens its RegTech presence with this acquisition.
Diginex Expands Cybersecurity Through AI Automation
The acquisition is set to expand Diginex’s AI automation capabilities in cybersecurity. Market reaction has been described as muted, reflecting investor caution.
Financial analysts note the potential for increased capabilities in vendor risk management. Regulatory approvals will be crucial to finalize this deal.
Growth Strategy Mirrors Previous Acquisitions
Diginex’s prior acquisition of Resulticks employed a similar share-based strategy. This approach illustrates a calculated growth in compliance sectors.
Experts suggest potential growth in Diginex’s market share, similar to past acquisitions. Long-term effects depend on successful integration and performance targets.
“Diginex Limited, a leading provider of Sustainability RegTech solutions, today announced the signing of a non-binding Memorandum of Understanding (MOU) to acquire 100% of the equity interests of IDRRA Cyber Security Ltd., which operates under the trade name Findings. … Diginex will acquire Findings for a total consideration of up to US$305 million, comprising US$270 million in Diginex Limited shares and up to US$35 million in cash, US$20 million of which is subject to an earn out provided certain financial targets are achieved.” — GlobeNewswire
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