Appgate Inc. has successfully completed its merger with Newtown Lane Marketing, Inc.
“We’re thrilled to begin this new chapter for Appgate and believe we are positioned for tremendous growth as a leader in Zero Trust security,” said Appgate CEO Barry Field.
Appgate provides secure access solutions like software-defined perimeter, risk-based authentication and digital threat protection to enable scalable zero trust cybersecurity for private and public sector customers.
“Grounded in the principles of Zero Trust, Appgate’s industry-recognized solutions are replacing outdated, easily compromised traditional network security,” Field said. “Appgate is a partner of choice for enterprises, financial institutions and federal customers seeking to adopt a Zero Trust strategy and take actions designed to prevent today’s catastrophic attacks.”
Appgate also announced Magnetar Financial LLC made an investment of $25 million in convertible notes, in addition to its investment in February of $50 million. Magnetar’s total investment implies a $1 billion post-money valuation.
“We believe that Appgate is disrupting the cybersecurity industry and we are excited to complete the merger to bring the Company to the public markets,” said Jon Ledecky, former president and controlling shareholder of Newtown.