VPN Service Cancels Customers' Lifetime Subscriptions After Takeover

Arthur T Knackerbracket has processed the following story:

In an email posted on Reddit from "The VPN Secure Team" sent to lifetime subscription holders, it's explained that VPNSecure was acquired in 2023. The deal included the technology, domain, and customer database, but not the liabilities.

"Unfortunately, the previous owner did not disclose that thousands of Lifetime Deals (LTDs) had been sold through platforms like StackSocial," reads the mail.

"We discovered this only months later - when a large portion of our resources were strained by these LTD accounts and high support volume from users, who through part of the database, provided no sustaining income to help us improve and maintain the service."

As a result of this, the new owners began deactivating lifetime accounts that had been dormant for six months. While it's claimed that this was "technically fair," - for some reason - the new owners seem shocked that it led to a wave of negative reviews.

[...] Ars Technica reports that a follow-up email from VPNSecure shed more light on the situation. It states that InfiniteQuant Ltd, which is a different company than InfiniteQuant Capital Ltd, acquired VPN Secure in an "asset only deal."

It goes on to say that while the buyers received the tech, brand, infrastructure, and tech, they received none of the company, contracts, payments, or obligations from the previous owners.

It's also claimed the Lifetime Deals sold by the old team between 2015 and 2017 were not disclosed to InfiniteQuant Ltd, but it kept the accounts running for 2 extra years despite never receiving a "single cent from those subscriptions." So stop being ungrateful, basically.

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