SMB advises on sale of 418Sec to cyber security firm, Protect AI

We are pleased to announce the sale of cybersecurity tech company, 418Sec Limited to US based technology company, Protect AI.  

Our team led by Peter Weiss, joint head of SMBs Corporate, Commercial and Finance team, together with associate Robert Hepburn, paralegal Kane Nosworthy and Employment partner, Ewan Keen, advised Adam Nygate, founder of 418Sec  on its sale to Protect AI who are also active in the cyber security sector. 

The company was initially backed by Cylon Ventures, with Peter and the SMB team advising 418 on their growth, development and ultimate exit. 

Following the acquisition, Protect AI was able to announce the launch of huntr, an AI/ML based bug bounty platform, that enables website owners to identify vulnerabilities within their infrastructure. Originally established by 418Sec, huntr.dev rapidly rose to become the world’s fifth largest Certified Naming Authority for common vulnerabilities and exposures in 2022, with a vast network of over ten-thousand security researchers specializing in open-source software. 

More information on the innovative company and the advanced AI technology they are utilising can be found here. 

For further information please contact: peter.weiss@smb.london.