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nCipher Shareholders approve acquisition of Abridean
Cambridge, UK -- nCipher plc, a provider of cryptographic IT security solutions, announced shareholders passed the proposed resolution approving the acquisition of Abridean Inc. Abridean is a provider of user management and provisioning solutions that enable businesses to manage user identities and entitlements in a highly flexible and auditable way, helping to address the spiraling costs of managing users and the ever-increasing burden of regulatory and legislative compliance.
The maximum total consideration payable under the terms of the acquisition is $17.9 million. nCipher also intends to repay $1.5 million pursuant to the terms of a loan provided by MMV Financial, Inc. due to Abridean, Inc.
The proposed acquisition has a strong strategic fit, enabling nCipher to enter the significant and growing market for identity management.
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