NEW YORK (TheStreet) --MGT Capital Investments (MGT) stock is soaring 6.49% to $2.46 on Friday after the company agreed to buy certain technology and assets from Demonsaw, the software provider that allows users to share information anonymously.
Terms of the deal include MGT Capital paying Demonsaw members of 20 million restricted shares of common stock.
Along with the announcement, made yesterday, MGT appointed Eric J. Anderson as its new CTO upon the closing of the transaction. Anderson is the founder of Demonsaw and a dedicated privacy activist.
"Privacy is very important to me. I'm deeply concerned with the loss of privacy that's been occurring as we give up more and more of our personal information to governments and corporations," Anderson stated, according to Techcrunch.
MGT CEO John McAfee, commented, "Artificial intelligence will be crucial to the next generation of cybersecurity systems. Eijah's proposed appointment as CTO will cement our edge in the creation of cybersecurity products in this new paradigm of cyber threats."
Based in Harrison, NY, MGT Capital Investments acquires, develops, and monetizes assets in the online, mobile, and casino gaming space.