Cyber Security 1 AB

CYBER1 ENTERS EXCLUSIVE AGREEMENT TO ACQUIRE INFONET, A LEADING CYBER SECURITY BUSINESS IN TURKEY

PRESS RELEASE                                                                                

London, 9th August 2018                                             

CYBER1 ENTERS EXCLUSIVE AGREEMENT TO ACQUIRE INFONET, A LEADING CYBER SECURITY BUSINESS  IN TURKEY

• CYBER1 to acquire 100% of INFONET, subject to contract
• INFONET is a leader in the provision of cyber resilient products and solutions in the Turkish market
• 2017 revenues exceed $24m*with EBITDA of $1.6m*
• Consideration $14m comprising $2.8m cash and $11.2m CYB1 shares 

Cyber Security 1 AB (publ) ("CYBER1"), (Nasdaq:CYB1, OTCQX:CYBNY), a leading supplier of cyber security solutions with operations in Europe, Africa and the Middle East, has signed an exclusive agreement with Turkish based INFONET to acquire 100% of its product and solutions business. The acquisition is in line with CYBER1's strategy to expand enterprise product offering in the region. 

In London today, CYBER1 announced the signing of Heads of Terms of Agreement pursuant to the acquisition of INFONET BILGI TEKNOLOJILERI TICARET LIMITED ("INFONET") in Turkey on a cash free, debt free basis, which is expected to close in Q4, 2018 subject to legal, financial and technology due diligence exercises.

INFONET is a private limited company with registered offices in Istanbul and Ankara.The transaction will include the acquisition of 100% of the shares in INFONET and the transaction will be completed by CYBER1.The transaction will include the acquisition of 100% of outstanding shares for a consideration of $14,000,000 comprised of $2,800,000 cash and $11,200,000 CYBER1 new issue shares. The number of shares issued will be set at a 'Strike Price' of €0.48 (forty-eight-euro-cents). The transaction will be completed by CYBER1. There will be no other impact on CYBER1's balance sheet.

INFONET is a very well established and profitable Cyber Security Services and product business.  INFONET is registered in Turkey with offices in Istanbul and Ankara. The companies are recognised for its excellence as key cyber solution provider and boast several blue-chip clients amongst their customer rosters.

With INFONET occupying a key position within the Turkish IT Security market and now celebrating their 23rd year in business, they have been recognised  as the leader and one of the most eminent cyber-focused businesses for the past ten years in the Turkish.