Cipherpoint Ltd (ASX:CPT) has been granted a trading halt by the ASX with an announcement pending in regard to a capital raising and a potential acquisition.
The halt will remain in place until the beginning of regular ASX trade on Thursday, January 14, or when an announcement is released to the market, whichever occurs earliest.
Shares last traded at 5.8 cents and during the last 12 months have traded in the range of 1.3 cents to 8.2 cents.
Opportunities in Hong Kong
Last month, the company entered into a new partnership with Hong Kong-based integrator and solutions provider DataAssure to deliver enhanced protection for sensitive enterprise data in large enterprises in Hong Kong and Macau.
DataAssure will work with Cipherpoint in Hong Kong and other parts of South East Asia to identify and deliver enhanced protection and discovery solutions for sensitive organisational data.
Having already identified opportunities in Hong Kong and Macau, the partnership will focus on delivering independent encryption for SharePoint on-prem and pave the way for extending this solution into cloud applications such as Office365.
Cp.Discover tool
The partnership will also provide an opportunity for Cipherpoint to extend the market reach of its sensitive data discovery and classification tool cp.Discover into an important South East Asian market.
Its cp.Discover tool provides an important capability for large organisations looking to migrate their business data to the cloud.