Cyber company Kaymera is $7.4 million in debt, requests initiation of legal proceedings | CTech
Summary
Israeli cybersecurity company, Kaymera Technologies, submitted an urgent request to the Tel Aviv District Court today, seeking an order to initiate legal proceedings to appoint a temporary trustee after accumulating debts amounting to approximately $7.4 million. The company developed its own version of the Android operating system which protects users from cyber threats on mobile phones, including eavesdropping, recording calls, Trojan horses, malware, data leaks, and more. After supplying the customer with the secured smartphones (software and, in some cases, hardware), the company continues to provide ongoing support and maintenance services in exchange for regular payments. It is further claimed in the request that, in a typical transaction, the company sells secured smartphones (Google Pixel type) to the customer on which the developed software is installed. After supplying the customer with the secured smartphones (both the software and, in some cases, the hardware), the company continues to provide ongoing support and maintenance services in exchange for regular payments.