HPN Holdings, Inc. Executes Letter of Intent to Purchase Cyber Security Software Company Cybeta

Rhea-AI Summary

HPN Holdings (OTC Pink: KICK) has executed a Letter of Intent to acquire Cybeta, a leading cyber security software company. Cybeta offers a patented product suite including Threat Beta for breach likelihood assessment, Threat Alpha for evaluating breach consequences, Vendor Risk Management for supply chain cyber risk, and Overwatch, a virtual SOC.

Cybeta's team, comprised of former NSA, CIA, and government agency professionals, recently identified a foreign infrastructure incursion that other software failed to detect - an incident mentioned in FBI Director's Congressional testimony. The company serves major banks, insurance companies, and private equity firms.

This acquisition represents HPN Holdings' first step in a series of planned acquisitions, aiming to provide Cybeta with growth capital through public market access.

Positive

• Acquisition of an established cybersecurity company with patented technology
• Existing high-profile client base including major banks and insurance companies
• Proven technology capability demonstrated through detection of major infrastructure threat
• Strategic entry into the growing cybersecurity market

Negative

• Financial terms of acquisition not disclosed
• Only Letter of Intent signed, deal not yet finalized

Chicago, Illinois--(Newsfile Corp. - January 22, 2025) - HPN Holdings, Inc. (OTC Pink: KICK) ("HPN") and Cybeta, Inc ("Cybeta") have executed a Letter of Intent for HPN Holdings to acquire Cybeta. Cybeta is a leader in next generation cyber security software with a patented comprehensive product suite which includes Threat Beta which assesses the likelihood of a breach, Threat Alpha which assesses the organizational and monetary consequences of a breach, Vendor Risk Management aimed at cyber risk in the company's supply chain and Overwatch which is a virtual SOC. Cybeta will become an integral part of HPN Holdings, Inc..

"This is a tremendous opportunity for Cybeta to become part of a public entity and raise the necessary growth capital to realize its true potential," said Doug Laux, CEO of Cybeta. "Cybeta has a world class roster of clients which includes major banks, insurance companies and private equity firms and we have delivered impressive results for them. The Cybeta team aided by the Cybeta software recently identified a foreign incursion into the US infrastructure that no other software was able to detect, this incursion and its potential ramifications if left unchecked were part of Director of the FBI's testimony before Congress last January, We continue to see increased worldwide demand for cyber security software solutions and this is the perfect opportunity to provide the necessary growth capital for Cybeta to grow the company."

"HPN evaluated several acquisition opportunities and Cybeta is by far the best opportunity that we have seen in the market today," said Doug Stukel, CEO of HPN Holdings, Inc. "Cybeta has a very impressive client base and a well-respected management team and a seasoned board of directors. The cyber security market is red hot with new incursions every day. The Cybeta team is made up of former cyber security professionals from the NSA, CIA and other government agencies. We are very excited about the long-term potential of Cybeta as this is the first of several planned acquisitions by HPN Holdings."

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About Cybeta

Cybeta enhances cybersecurity by offering a unique perspective: the view through a threat actor's lens. Our platform provides an external vantage point to identify attack methods, quantify the financial impact of potential breaches, and deliver actionable insights to help prevent attacks. When combined with internal cybersecurity solutions, Cybeta offers a comprehensive view of the corporate cyber landscape, enabling organizations to anticipate and address evolving threats effectively.

About HPN Holdings, Inc.

HPN Holdings Inc. is an OTC Markets company trading under the symbol KICK. Its charter is to seek premier operating companies with the specific purpose to grow the company through mergers and acquisition. For more information please direct inquiries to Kaitlin Profita at admin@HPNHoldings.com.

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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by HPN Holdings, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238085

FAQ

What companies will KICK acquire through the Cybeta Letter of Intent?

HPN Holdings (KICK) has signed a Letter of Intent to acquire Cybeta, a cyber security software company with patented technology and solutions.

What products does Cybeta offer that KICK will acquire?

Cybeta offers four main products: Threat Beta for breach likelihood assessment, Threat Alpha for breach consequence evaluation, Vendor Risk Management for supply chain cyber risk, and Overwatch, a virtual SOC.

What major achievement did Cybeta's team accomplish that was mentioned in FBI testimony?

Cybeta's team identified a foreign incursion into US infrastructure that no other software was able to detect, which was mentioned in the FBI Director's Congressional testimony in January.

Who are Cybeta's current clients that will transfer to KICK after acquisition?

Cybeta serves major banks, insurance companies, and private equity firms, though specific client names were not disclosed in the announcement.

Is this KICK's only planned acquisition in the cybersecurity sector?

No, according to the announcement, this is the first of several planned acquisitions by HPN Holdings (KICK).