$20 Million Financing of Technology Security Company

Prolexic Technologies
Publicly listed technology conglomerate IPVG Corp. (PSE: IP) sold part of its equity stake in Prolexic Technologies, Inc., a Florida-based Internet technology security firm, to Kennet Venture Partners, a private equity firm based in San Francisco, for $13.86 million. We represented Prolexic in the sale. In addition to the $13.68 million sale, IPVG will be paid $2.88 million from the sale of shares to management team members and IPVG will provide a $3.3 million loan to Prolexic to further support its expansion plans. Founded in 2003, Prolexic was the first company to establish global scrubbing centers to stop DDoS (distributed denial-of-service) attacks in the Cloud and currently provides the most advanced and powerful DDoS detection and network protection systems available.
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Richard M. Goldstein

Richard M. Goldstein

Partner, Private Wealth and Tax Team Chair
Represented the bankruptcy estate of All American Semiconductor, Inc., in the prosecution of an antitrust action for price-fixing in the Northern District of California against the major manufacturers of DRAM.