24/7 Market News – (NASDAQ:CYRN) – Shares are up more than 41% in the pre-market after announcing the sale of its secure email gateway for $10 million Euros in cash.

“This transaction is fully aligned with our strategy to focus our efforts and resources on products and market opportunities that we believe offer the best growth opportunities for Cyren,” said Brett Jackson, Cyren’s Chief Executive Officer. “The proceeds from this transaction will strengthen our balance sheet, allow us to fund additional growth-related investments and streamline our product line and overall business. We believe that Content Services Group is a good strategic fit for this business, will be a good home for our team members associated with the business, and is committed to continuing to support the products and customers.

Cyren will use the proceeds to expand go-to-market activities relating to its anti-phishing solution, Cyren Inbox Security, and its core Threat Intelligence Services. New bookings associated with these products have been growing in recent quarters and Cyren believes it is time to accelerate investments in these two market opportunities.

For Cyren Inbox Security and Threat Intelligence Services customers, there will be no changes to points of contact, service levels or product efficacy as a result of this divestment. Cyren secure email gateway customers (Cyren Email Security, eXpurgate) will receive ongoing communications from Cyren account managers and support teams to ensure a smooth transition, post-closing, to Content Services Group, with no disruption to service or support.

About Cyren Cyren (NASDAQ:CYRN) protects more than a 1 billion users around the world from sophisticated and emerging email-, malware-, and web-based cyber-attacks every day. Our embedded threat detection, threat intelligence and inbox security solutions help enterprise, service providers, and technology companies prevent breaches and eliminate countless hours of incident response. Learn more at www.cyren.com