Thursday, February 23, 2012

CyberDefender Files For Chapter 11, Agrees To Sell To GR Match

Los Angeles-based CyberDefender, the troubled developer of Internet security software and provider of remote technical support services, said today that it has filed for Chapter 11 bankruptcy, and has agreed to be sold to GR Match, LLC, an affiliate of Guthy-Renker LLC, its largest shareholder. CyberDefender said the sale is still subject to approval by the bankruptcy court, receipt of higher and better offers, and other closing conditions. As part of the sale, CyberDefender said that GR Match has agreed to provide $4.6 million in debtor-in-possession financing to the company.

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