Zix Shares Pop As News Sparks Over Potential Sale

October 19, 2021 4:05 PM | 1 min read | Make a Comment

Email security solutions provider Zix Corp ZIXI is exploring strategic alternatives that include a sale of the company, Reuters reports.
Zix has hired Citigroup Inc C to negotiate with interested parties, including other companies and private equity firms, the report added.
Zix's offerings have expanded from compliance to security solutions.
Zix reported $62.83 million in revenue in its most recent quarter ending June 30, a 17.8% year-over-year increase.
Zix has a market value of $436 million and had debt of $209 million as of June end.
The stock has lost 11.2% year-to-date.
Price Action: ZIXI shares closed higher by 5.48% at $8.08 on Tuesday.