Spyware Firm NSO Mulls Shutdown of Pegasus Unit, Sale of Company (bloomberg.com) 14
NSO Group, the scandal-plagued spyware company that's in danger of defaulting on its debts, is exploring options that include shutting its controversial Pegasus unit and selling the entire company, Bloomberg News reported Monday, citing people familiar with the matter. From the report: Talks have been held with several investment funds about moves that include a refinancing or outright sale, said the people, who asked not to be identified as the discussions are private. The company has brought in advisers from Moelis & Co. to assist, and lenders are getting advice from lawyers at Willkie Farr & Gallagher, the people said. The prospective new owners include two American funds that have discussed taking control and closing Pegasus, one of the people said. Under that scenario, the funds would then inject about $200 million in fresh capital to turn the know-how behind Pegasus into strictly defensive cyber security services, and perhaps develop the Israeli companys drone technology, one of the people said. Pegasus software can track a user's mobile phone, and its misuse has landed NSO at the center of high-profile privacy abuse cases. The product allegedly was supplied to governments that used it to spy on political dissidents, journalists and human right activists.
Will move on... (Score:3)
to another criminal enterprise.
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Agreed. I hope they go to gaol first.
Get fucked, Shalev Hulio.
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Putin.com
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US company? (Score:3)
Re: US company? (Score:2)
The Israeli government will take it over (Score:3)
Does anyone think for a moment that the Israeli government would let such an asset go away?
They will take it over. Good luck suing them.
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Depends what you mean by asset. The tech itself will be a spin-off from existing military activities, so losing the private company isn't a loss in current or future military capabilities.
But obviously the financial income, a valuable export, is welcome too. No doubt NSO will be assisted at arms length but "restructuring" and a new badge will be minimum steps ... so on paper it then reads like NSO is no more.
Common practise, all around the world, for any company in political hot-water.
Re: The Israeli government will take it over (Score:2)
By asset, I meant the team building the Pegasus software.
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Rebadging is enough. And maybe some extra guidelines for who they'll sell to under the new badge.
Rebadging also gives them the flexibility to tear up old contracts on a case by case basis without any penalties for NSO.
I wonder if they even should cease and desist (Score:2)
I wonder if it even would be a good thing for them to cease and desist. Their software has been used to do great harm, but they do supposedly vet their clients and attempt to sell it where it will be used appropriately, such as getting information on human trafficking. If they cease and desist, there will be a market gap. Might another company offer hacking capabilities that will sell to any buyer? Imagine if the a cartel got the ability to remotely break into a target's phone and read their messages. Right
OF COURSE INVESTMENT FIRMS.. (Score:2)
.."let's find a way of dumping the brand, and starting anew".