Cyren's 3rd Quarter Revenue Down: Warburg Pincus Buys Shares

Cyren, a provider of a cloud security platform for email, web and DNS, generated revenue of $7.6 million in the third quarter, compared to $7.9 million during the same period in 2016.

In addition, the firm posted a GAAP net loss of $3.6 million, versus $1 million in the third quarter last year.

However, the company claims that it has pulled in 60 new customers, and that its average new order size has leaped by 250%.

This follows the news last week that private equity firm Warburg Pincus had purchased 10.6 million shares -- 21.3% of Cyren’s shares, yielding proceeds of $19.6 million.

In addition, Warburg Pincus announced a tender offer to acquire up to 75% of Cyren’s  partially diluted outstanding shares.

Cyren recently released version 4.2 of its CCS platform, adding email archiving to its email security, web security, DNS security, and cloud sandboxing services.  

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