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OFFON

ZIX CORPORATION

(ZIXI)
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Exclusive: Email security software vendor Zix explores sale - sources

10/18/2021 | 06:49pm EST

(Reuters) - Zix Corp, a U.S. provider of email security solutions, is exploring strategic alternatives that include a sale of the company, according to people familiar with the matter.

Zix has hired Citigroup Inc to negotiate with interested parties that include other companies and private equity firms, the sources said.

There is no certainty any deal will be reached, added the sources, who requested anonymity because the matter is confidential.

Zix and Citigroup declined to comment.

Dealmaking is heating up in the cyber security sector as more companies rely on remote working during the COVID-19 pandemic. Private equity firm Thoma Bravo took enterprise security platform Proofpoint Inc private for $12.3 billion in August.

Zix's offerings have expanded from compliance to security solutions, and are used by 21,000 corporate and institutional customers, including 1,200 U.S. hospitals and 30% of U.S. banks, according to its website. The Dallas-based company has a market value of $436 million and had debt of $209 million as of the end of June.

Zix reported $62.83 million in revenue in its most recent quarter ending June 30, a 17.8% year-over-year increase. But its shares are down 11.2% year-to-date, amid investor concerns that it will be overtaken down the line by bigger rivals.

(Reporting by Krystal Hu in New York; Editing by Matthew Lewis)

By Krystal Hu


ę Reuters 2021
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Analyst Recommendations on ZIX CORPORATION
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Financials (USD)
Sales 2021 254 M - -
Net income 2021 -19,8 M - -
Net Debt 2021 170 M - -
P/E ratio 2021 -23,6x
Yield 2021 -
Capitalization 482 M 482 M -
EV / Sales 2021 2,57x
EV / Sales 2022 2,16x
Nbr of Employees 543
Free-Float 60,5%
Chart ZIX CORPORATION
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Zix Corporation Technical Analysis Chart | ZIXI | US98974P1003 | MarketScreener
Technical analysis trends ZIX CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Last Close Price 8,49 $
Average target price 8,50 $
Spread / Average Target 0,12%
EPS Revisions
Managers and Directors
David J. Wagner President, Chief Executive Officer & Director
David E. Rockvam Chief Financial Officer & Vice President
Robert Charles Hausmann Non-Executive Chairman
David J. Robertson Vice President-Engineering
Sheila Carpenter Chief Information Officer
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