Cyber security play Family Zone is set to acquire a business in...

Cyber security play Family Zone is set to acquire a business in the UK and fund it with a $145 million equity raising.

The acquisition is a UK based business with $30 million in annual revenue, 6.1 million students on its platform and 12,400 schools, sources said.

It’s a big deal for Family Zone, a Perth-based cyber safety technology play with offices in Australia, New Zealand and the UK. The group had $14 million revenue, 3 million students and 5600 schools, prior to the latest acquisition.

The raising will be worth $145 million and done via a placement and rights issue.

The company’s brokers Shaw and Partners and Euroz started lining up investors to support the deal on Monday morning. Its shares last closed at 60¢ and valued the group at $262 million on a market capitalisation basis.

That's essentially the full article, nothing else. Spent some time trawling through the UK school cyber security companies but have come up empty.