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Spyware company Pegasus is planning to shut down as it is in danger of defaulting its debts due to the controversies around spyware. The news outlets reported that the company is considering selling the entire Pegasus unit or shutting it off according to the people familiar with the matter.
New moves are being discussed with several investment funds that include outright sales and new financing.
The expected new owners are two Americans, who might close Pegasus. Under this situation, $200 million in fresh capital will turn Pegasus into a strict privacy security service provider and might start to develop the drone technology of Israel.
Pegasus software is able to track users’ mobile phones and its misuse was landed in the hands of NSO in a high-profile case. The product was supplied to the government which they side to spy on activists, journalists including Jullian Assange.
The US commerce department has blacklisted the NSO to stop the misuse. Apple also recently sued NSO and sought to ban NSO from using its products.