EQS-News: cyan AG
/ Key word(s): Capital Increase
cyan AG: European technology company cyan successfully completes capital increase raising EUR 5.6 million
Munich, September 22, 2022 – cyan AG (XETR: CYR), a leading European and global provider of intelligent cybersecurity solutions and BSS/OSS platform services for the telecommunications industry, successfully completed its capital increase with gross proceeds of EUR 5.6 million. The financing round was predominantly subscribed by existing investors.
"We are pleased that with the strong confidence of our investors, we were able to fully conclude the funding round. We would like to take this opportunity to thank all investors for their continued support," emphasized Frank von Seth, CEO of cyan AG. "We now have good momentum in both segments, Cybersecurity and BSS/OSS, to execute the strategy and thereby sustainably improve our profitability. The potential for our technologies is huge and our mission clear. With the funds, we can continue to drive cyan's transformation."
In recent months, a new dynamic has been observed in the digitalization of every aspect of daily life. On the one hand, this requires lean, digital platforms with which innovative telecom providers can respond to the changing demands in a cost-efficient and fast way. On the other hand, cybersecurity is increasingly becoming a strategic component for them, with Security-as-a-Service representing an important product in their portfolio. The financing enables cyan to implement its growth strategy in the two segments BSS/OSS, which will be organized under the i-new brand in the future, and Cybersecurity.
Today the group has numerous international customers, through which cyan’s products are distributed to end customers. In the process cyan can offer a range of solutions along the entire value chain from platform, data optimization to cybersecurity. In addition, cyan operates its own research & development center with the aim of identifying industry trends at an early stage and developing optimal product solutions. Besides Orange, cyan's customers include among others Claro Chile (América Móvil Group), dtac (Telenor Group) as well as the telecom group Magenta (T-Mobile). Further information is available at: www.cyansecurity.com
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22.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG.
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|EQS News ID:||1448225|
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1448225 22.09.2022 CET/CEST