$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
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