viewDefenx PLC

Defenx brings strategic advisor on board

MBooster – headed up by Paolo Cellini – is an investment fund of Innogest, one of the largest venture capital firms in Italy

two men shaking hands
MBooster will receive a fee of €37,500 every six months

Mobile security specialist Defenx plc (LON:DFX) has brought on board a division of one of Italy’s largest venture capital firms as a strategic adviser.

MBooster – an investment fund of digital markets investor, Innogest – will work alongside the Defenx team to help drive growth at the AIM-listed firm.

The MBooster team will be spearheaded by its venture partner Paolo Cellini, who’s held senior positions at the likes of Microsoft and Disney.

“I am delighted that we have secured the services of Paolo and the wider MBooster team to support Defenx's growth aspirations,” said Defenx chief executive Andrea Stecconi.

“He brings extensive experience and a track record of supporting growing companies within and beyond Italy.”

MBooster will receive a semi-annual fee of €37,500, which will be paid out in new shares.

The partnership began on 1 January and can be cancelled with three months’ notice by either party, Defenx added.

Shares were up 2% to 92.5p in early trading on Tuesday.

Quick facts: Defenx PLC

Price: 1.025 GBX

Market: AIM
Market Cap: £288.62 k

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