SAN DIEGO, Calif., March 11, 2022 – Linewize, a division of Family Zone (ASX: FZO), a rapidly growing education technology company, announced today the acquisition of Cipafilter, a web filter and firewall dedicated to educators nationwide. This marks the third acquisition in less than a year making Linewize one of the world’s largest K-12 digital safety providers, serving more than 10 million students globally and offering a suite of capabilities including compliance and filtering, classroom management, real-time monitoring and intervention, online safety education and more. Linewize’s parent company, Family Zone, acquired Cipafilter through the 100% acquisition of shares in Cipafilter’s holding company DerbyTech, Inc. Agreed consideration is $4.5 million in Family Zone shares at the 30-Day VWAP representing 13,116,316 Shares plus an estimated $3.0 million to be paid in cash.
With an established reputation for quality and loyalty, Cipafilter provides schools with a web filter and firewall technology, in addition to valuable reporting and notification alerts. Having served the U.S. K-12 market for over two decades, the company supports more than 400,000 students. This acquisition perfectly aligns with Linewize’s growth strategy, further solidifying the company as a global EdTech leader. In addition to obtaining an increased client base, Linewize will now have access to more robust engineering and sales teams.
“This acquisition is a testament to our continued growth. By merging our technology offerings and staff with that of Cipafilter, we are determined to further our mission to protect the digital journeys of students globally,” said Ross Young, executive vice president of Linewize. “Looking ahead, we remain committed to meeting the evolving needs of school districts and keeping students safe in the digital world.” …Read More