Portfolio company Garrison acquired by Everfox
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| FOR RELEASE ON | 12 June 2024 |
IP Group plc - Portfolio company Garrison acquired by Everfox
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to note that portfolio company Garrison Technology Ltd ("Garrison") has been acquired by US-based cybersecurity firm Everfox (formerly Forcepoint Federal).
The Group will receive cash consideration for its holding in Garrison. The transaction will not result in a significant change in the Group's Net Asset Value, reinforcing the Group's valuation approach. Further information on the transaction will be provided in due course.
The transaction is subject to regulatory review and customary closing conditions and is expected to complete this summer.
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