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Aura Splits Into Two World-Class Online Safety Companies
Wednesday, September 11, 2024
BOSTON, Sept. 3, 2024 /PRNewswire/ -- Online safety leader Aura today announced that it has split the company into two, standalone entities: Aura, the high-growth all-in-one online safety solution for individuals and families, and Pango Group, a multi-brand cybersecurity company providing robust solutions to both enterprises and consumers with a focus on comprehensive breach response, scalable security products, and integration capabilities.
"This separation creates two highly-focused companies, each equipped to address the specific consumer needs of their unique markets," said Hari Ravichandran, founder and CEO of Aura. "I am confident that, with their laser focus on these independent segments of the market, both companies are primed to thrive."
Aura's all-in-one family online safety solution has approximately $150 million in annual recurring revenue (ARR) and is currently pacing to grow at more than 40% year-over-year. Concurrently, Pango Group continues to demonstrate its financial strength with annual revenue of more than $200 million, while maintaining strong cash flow and healthy growth.
Transaction Details
The transaction was completed as a tax-free spin-off to shareholders for U.S. federal income tax purposes. Following the completion of the transaction, existing shareholders now own one share of Pango Group, Inc. common stock for every one share of Aura common stock held.
Aura
Aura remains steadfast in its commitment to make the internet safer for everyone, delivering intelligent protection for individuals and families. The company will continue to optimize its easy-to-use, all-in-one platform that combines identity theft protection, privacy solutions, credit and financial fraud protection, dark web monitoring and parental controls. Aura will additionally continue to invest in its AI-powered Software-as-a-Service (SaaS) platform to accelerate the development of cutting-edge features that continuously adapt to evolving online risks - from scams and fraud prevention to predators and cyberbullying.
Pango Group, Inc.
With a 20 year track-record, Pango Group will continue to execute against its vision to provide a comprehensive and customizable suite of solutions to help enterprise customers boost customer loyalty and retention, while giving millions of consumers around the world peace of mind by addressing their most urgent cybersecurity needs. The company continuously explores opportunities to expand its portfolio of protections through the acquisition of best-in-class brands. The Pango Group portfolio of brands includes: Betternet, Hotspot Shield, Financial Shield, Privacy Shield, Medical Shield, Touch VPN, Robo Shield, Ultra AV, Ultra VPN and VPN 360.
For further information, please contact media@aura.com.
About Aura
Aura is one of the fastest growing, all-in-one online safety solutions for individuals and families. Whether you're protecting yourself, your kids, or your aging loved ones, Aura can meet your needs at every stage of life. Customers trust Aura's simple interface to effortlessly safeguard the things they care about most. Through real-time monitoring and alerts, Aura helps detect and mitigate emerging online threats, such as scams, predators and cyberbullying. To discover how Aura is reshaping online safety for people everywhere, visit www.aura.com.
About Pango Group
Pango Group offers a customizable suite of cybersecurity solutions across its portfolio of best-in-class brands, including VPNs, and antivirus software. With more than a million customers in more than 150 countries, Pango Group's mission is to ensure privacy and protect endpoints with innovative, robust and scalable cybersecurity solutions for enterprises and consumers. To learn more, visit www.pangoholdingcompany.com.
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SOURCE Aura
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