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Cipherpoint sells software division SYDNEY - September 20, 2021 - (Newswire.com) Cipherpoint Limited is pleased to announce that, following a review of operations as part of seeking to achieve efficiencies following the acquisition of Brace168, CPT has entered into an agreement to sell select assets of its software division to ArchTIS Limited (archTIS or AR9). The assets comprise the IP to cp.Protect (an advanced SharePoint protection solution) as well as cp.Discover, (a data discovery and classification platform) the benefit of certain customer contracts, technology and European operations. Both cp. products complement the AR9's NC Protect solutions. Cipherpoint sales and development staff in Europe (Heilbronn, Germany) will join AR9. CPT will have the right to resell both sets of cp. Products as part of its ongoing business operations however will no longer incur any future development, software marketing and/or support costs. The purchase price consists of an initial $1,400,000 in cash payable at completion with $200,000 to be escrowed until the novation of certain contracts and potential deferred consideration of up to an additional $1,000,000 in AR9 shares based on total contract values of assigned contracts to AR9 as at 31 March 2022. A summary of the material terms of the Asset Sale Agreement with AR9 is set out below in Annexure A. Cipherpoint Chairman Ted Pretty said: "This transaction is compelling. Following the sale, CPT's annual operating costs will reduce by approximately $1,060,000 with a very modest impact on revenue. This significantly strengthens our cashflow position. Cipherpoint will now focus on its managed security services business including Brace168. Cash from the sale will be deployed to drive further growth in our managed services business both organically and by potential acquisitions." The Company will provide a further update on its strategy and outlook with its next Appendix 4C after the end of the September quarter. Cipherpoint COO Steven Bliim will join archTIS as 'Vice President - Business Development, EMEA' however will remain on the Board of Cipherpoint as a Non-Executive Director. Ted Pretty will be moving to the role of Managing Director and Executive Chairman of Cipherpoint. Press Release Service by Newswire.com Original Source: Cipherpoint Sells cp.Protect and cp.Discover Technology Assets
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To Accelerate Design Trainings for Enterprise UX Training Programs, Innovation Accelerator Kits Can Reduce Learning CurveBengaluru, Karnataka Sep 18, 2021 (Issuewire.com) - The ThinkPlay Box Pvt. Ltd. and Bridge UX Design Studios LLP have signed a joint Memorandum of Understanding (MoU) with the object of promoting their co-operation in commercial partnerships in the field of Design and UX education and research where ThinkPlay Box Pvt. Ltd. will develop exclusive Innovation Accelerator Kits in the domains of Design, Innovation, and UX as training-products for Bridge UX Design Studios for its design programs of its students. ThinkPlay Box Pvt. Ltd. is a home-grown Indian innovation accelerator publishing brand providing premium ready-to-use tools and Innovation Accelerator Kitss for the areas like design, innovation, creativity, and business strategy. The Innovation Accelerator Kits is designed to help cater to the need of bringing innovation leadership to enterprise, especially focusing on small and medium-sized startups where the need for on-the-job innovation is essential to meet the market competition. Innovation Accelerator Kits can be used for creative professionals, solo or as a team or as part of an enterprise. Bridge UX Design Studios LLP has been named as the top design solutions provider from Bengaluru, which supports organizations' strategic initiatives for the majority of the start-ups, mid-size as well as some of the Fortune 500 companies along with specific programs in enterprise design training. Through this MoU, it was announced that ThinkPlay Box Pvt. Ltd. would provide bulk Innovation Accelerator Kits designed for specific areas like (but not limited to) Design-Thinking, Service-Design, etc. on-demand to support the need for such kits at an affordable price.Media ContactThinkPlay BoxPrivate Limitedemail@example.com+91 99806 45547ThinkPlay BoxPrivate Limited, #4, Prop 17, Jinkethimanahalli, Greenwood Layout Phase 3, Bengaluru, Karnataka, India 560036https://thinkplaybox.com Source :ThinkPlay Box Private Limited This article was originally published by IssueWire. Read the original article here.