The Australian group Family Zone has acquired the Spanish startup Qustodio, specialised in content protection for minors on the Internet, in a transaction valued at 52 million dollars (approximately 48 million euros). Across Legal advised Qustodio in the deal.
The transaction is subject to the satisfaction of customary closing conditions, including obtaining regulatory approval from the Spanish authorities.
The Barcelona-based Qustodio app, founded by Eduardo Cruz, Josep Gaspar and Josh Gabel, has more than four million users and is available in eight languages, according to the company’s website.
The firm has customers in more than 180 countries, as well as distribution agreements with some of the world’s leading telecommunications operators in Spain, France, Mexico, Chile, Japan, Brazil and Singapore.
The merger of the two companies will accelerate their growth by scaling their operations and product expansion.
Qustodio’s multi-platform solution enables parents and educators to protect children from online harm, while promoting awareness and healthy digital habits. Its tools help manage and balance screen time and block harmful content, allowing families and educators to create a safe digital experience for every child.
«The merger of Qustodio and Family Zone will be a turning point in the cybersecurity industry» according to Tim Levy, CEO Family Zone.
Source: Press release Qustodio and Cinco Días