Portfolio company Garrison acquired by Everfox

IP Group PLC

12 June 2024

 

FOR RELEASE ON

12 June 2024

IP Group plc - Portfolio company Garrison acquired by Everfox

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to note that portfolio company Garrison Technology Ltd ("Garrison") has been acquired by US-based cybersecurity firm Everfox (formerly Forcepoint Federal).

The Group will receive cash consideration for its holding in Garrison. The transaction will not result in a significant change in the Group's Net Asset Value, reinforcing the Group's valuation approach. Further information on the transaction will be provided in due course.

The transaction is subject to regulatory review and customary closing conditions and is expected to complete this summer.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Liz Vaughan-Adams, Communications	[phone]/[phone]
Portland
Alex Donaldson	[phone]

Notes for editors

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, First Light Fusion, Hysata, and Oxa. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information, please visit our website at www.ipgroupplc.com.

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