Opin Kerfi hf. entered into a non-binding, non-exclusive letter of intent to acquire Certain Assets Associated with Anti-Malware Business of Cyren Ltd. on February 21, 2023. The completion of transaction is contingent upon several factors including satisfactory due diligence and the execution of a definitive asset purchase agreement.

In view of Cyren's liquidity challenges, the transaction may also be subject to court approvals following any filings for insolvency protection which are anticipated.