News Detail - Cyan Security

cyan AG: European technology company cyan successfully completes capital increase raising EUR 5.6 million

EQS-News: cyan AG/ Key word(s): Capital Increase
cyan AG: European technology company cyan successfully completes capital increase raising EUR 5.6 million
22.09.2022 / 09:46 CET/CEST
The issuer is solely responsible for the content of this announcement.

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.

About cyan
cyan AG (XETR: CYR) is a leading, globally active provider of intelligent cyber security solutions and platforms (BSS/OSS) for telecom companies with more than 15 years of experience in the IT industry. The company's main business areas are IT security solutions for end customers of mobile and fixed network internet providers (MNO, ISP), mobile virtual network operators (MVNO) and financial service providers. The solutions provided by cyan are integrated as white label product into the infrastructure of the business partners, who then offer them to their end customers in a B2B2C model, under their own brand.

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


cyan AG Investor Relations:

cyan AG
Tel. +49 89 71042 2073
E-Mail: ir@cyansecurity.com

 

cyan AG Media and Press:

Better Orange IR & HV AG
Tel. +49 89 88 96 906 17
E-Mail: vera.mueller@better-orange.de



22.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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