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Cellebrite (NASDAQ:CLBT), a global leader in premier Digital Investigative solutions for the public and private sectors, today announced its agreement to acquire Corellium, a leader in Arm-based virtualization software. This combination will set a new standard for digital investigations and the security of smart devices including iOS, Android, automotive systems and any Arm-based IoT device.
Cellebrite intends to acquire Corellium for an enterprise value of $170 million in cash with $20 million converted to equity at closing. Corellium securityholders will receive up to an additional $30 million in cash based on the achievement of certain performance milestones over the next two years. The deal is expected to close this summer, subject to approval of the Committee on Foreign Investment in the United States and other customary closing conditions. Cellebrite plans to provide additional information about Corellium's anticipated financial contribution after the transaction closes.
Posted In: CLBT
