Blancco Technology to Acquire Data Erasure Software Provider WipeDrive.
MANews-(C)2009-2022
UK-based data erasure and mobile lifecycle solutions specialist Blancco Technology Group plc (AIM: BLTG) has agreed to acquire WipeDrive Inc, formerly known as White Canyon Software Inc, a US-based provider of data erasure software solutions for corporations and public sector organisations, the company said.
The board expects the acquisition to be immediately earnings enhancing upon completion.
The total consideration for WipeDrive is up to USD 10m (GBP 8m), consisting of an initial cash consideration of USD 8.5m to be paid on completion and further contingent consideration of up to USD 1.5m to be paid in cash 12 months following completion subject to certain performance criteria.
The total consideration will be financed through the Group's existing cash and debt resources.
Headquartered in Pleasant Grove, Utah, WipeDrive was previously named White Canyon Software Inc and changed its name to WipeDrive in 2021.
WipeDrive provides data diagnostic, wiping, transfer and verifying software tools. WipeDrive has a significant customer base of over 500...
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