MIAMI, NEW YORK and PARIS, Dec. 04, 2024 (GLOBE NEWSWIRE) — Cyber AI Group, Inc., an emerging cybersecurity, artificial intelligence and IT services company engaged in the proactive acquisition of a broad range of cybersecurity service providers globally, today announced that it has entered into a comprehensive letter of intent to acquire an established U.S. cybersecurity company. The announcement was made by AJ Cervantes, Jr., Chairman of CyberAI and Chairman of Trilogy Capital Group, LLC, CyberAI’s founding shareholder.
“The incredible value of this major acquisition cannot be overstated,” said Mr. Cervantes. “This very significant potential acquisition, which would generate over $30 million in annual revenue, is a major milestone in our global business combination strategy and underscores our overarching commitment to highly proactive growth. By enhancing our market presence and service capabilities, we seek to deliver exceptional value to stakeholders while accelerating our progress toward our key pre-IPO milestones.”
Already strong as a highly profitable and leading national cybersecurity company, the potential acquisition is expected to bring CyberAI an established customer base and critical expertise. This strategic move directly supports CyberAI’s goal of strengthening our international cybersecurity presence and expanding our global reach in priority markets.
“As we have previously announced, as part of our growth strategy, CyberAI is targeting $100 million in annualized revenue over the next 12 to 18 months,” added Mr. Cervantes. “We will achieve this ambitious goal through a balanced combination of strategic international acquisitions and organic growth. At the same time, we are focused on equipping our customers with next-generation AI-based technologies tailored to cybersecurity challenges.”
ThinkEquity LLC, a New York-based investment bank focused on public and private capital raising, is expected to provide the primary financing for the acquisition. On October 18, 2024, CyberAI announced that it had entered into an agreement with an investment bank, ThinkEquity, to support CyberAI’s business combination strategy. For more information, please visit: www.think-equity.com .
The transaction is expected to close in the coming months, subject to receipt of regulatory approvals and standard closing conditions. Additional updated information regarding the acquisition will be provided regularly.
About Cyber AI Group
Cyber AI Group (“CyberAI”) is a global company engaged in the acquisition and management of global cybersecurity and IT services companies. CyberAI is pursuing a highly proactive “Buy-and-Build” strategy to rapidly expand its business internationally by acquiring a broad range of IT services companies and repositioning them to meet the rapidly growing needs of the cybersecurity and artificial intelligence markets. The Company has developed an active pipeline of over 300 potential acquisitions that are at various stages of analysis. The Company’s initial objective is to acquire multiple businesses with aggregate revenues of $100 million. CyberAI’s business model is focused on acquiring and consolidating IT services companies with a proven track record in traditional technology services with significant cash flow and improving performance through AI-enabled cybersecurity initiatives. The focus on conventional businesses with strong revenues and EBITDA sets CyberAI apart from the explosion of AI startups that may stake their future on a single technological breakthrough that may never materialize. This buy-and-build strategy gives CyberAI maximum flexibility in diversification and risk management, allowing it to pivot into new areas and seize opportunities in a rapidly evolving market. For more information, please visit: cyberaigroup.io .
