BCLP advises Kape Technologies plc on deal to acquire ExpressVPN for US$936m

A multi-jurisdictional BCLP team from London, the US, Hong Kong SAR, Singapore, Brussels and Dubai has advised longstanding client Kape Technologies plc on its US$936 million agreement to acquire premium consumer VPN business ExpressVPN and on Kape’s associated US$354 million underwritten equity offering and US$475 million loan facilities.

Kape is an AIM-traded digital privacy and security software business whose strategy is to become the world’s leading provider of consumer-focused digital privacy and security solutions. ExpressVPN is one of the most recognised brands in the digital privacy space and the acquisition will create a premium digital privacy and security player best positioned to capitalise on the growth in the digital privacy market. It is anticipated that completion of the acquisition will occur in Q4 2021 if relevant merger control, shareholder and third party consents are received.

The BCLP team was led by Corporate Partner Nick Myatt and Global Practice Group Leader for Technology, Commercial and Government Affairs, Carol Osborne, supported by Corporate Partner Richard Werner, Banking Partner Derek Hrydziuszko and Competition Partners Andrew Hockley and Becky Nelson, together with a large number of other specialists from around the Firm.

BCLP has previously represented Kape on its 2014 IPO, its US$95 million acquisition in 2019 of Private Internet Access and its US$115 million equity fundraising in 2020.