Cryptzone acquired by US high growth investment firm
(M2 PressWIRE Via Acquire Media NewsEdge) Gothenburg, Sweden and Miami, Fl - Cryptzone, a leading provider of encryption solutions and identity and access management (IAM), has been acquired by Medina Capital, a high-growth equity investment firm focused on the IT infrastructure sector.
The acquisition of the publicly traded company, which is presently listed on NASDAQ OMX First North, was finalized following the completion of the tender offer for all of the outstanding shares of Cryptzone.
Specialising in encryption and identity and access management technologies, Cryptzone designs solutions that are seamless to users, yet afford powerful security that protects enterprise information assets, corporate applications, and other network resources, including Microsoft Sharepoint environments. The company's customers, which include five companies from the Fortune 50 and various government agencies, are able to securely connect, collaborate and comply within the digital workplace, thereby improving document security, access control and compliance auditing capabilities.
Cryptzone's primary products include Simple Encryption Platform (SEP) and Appgate. The SEP solution is an enterprise-wide platform that addresses encryption requirements for data in transit, email data, portable media, information on the corporate network, and Microsoft SharePoint infrastructure. Cryptzone's Appgate solution is an enterprise-wide identity and access management platform that focuses on users and the applications they need access to instead of the traditional IP-centric network approach. Appgate provides secure, role-based access control to enterprise users granting them access to only authorized assets.
"Large-scale data breaches impacting companies like Target, and their tens of millions of customers, are indicative of the new threat landscape targeting critical data in all industries and underscore the need for the types of secure access controls provided by Cryptzone," said Manuel D. Medina, founding and managing partner of Medina Capital. "Through our investment and the strategic guidance to Cryptzone's leadership team, we believe the company will be ideally positioned to take advantage of a significant market opportunity for leading-edge identity and access management solutions. Cryptzone has already gained tremendous traction in the U.S. market and we plan to build on that momentum by establishing a significant presence for the company here in the near future."
According to Gartner, the identity and access management market was contributing most to overall growth in the information security sector. The industry analyst firm forecasts double-digit growth in the IAM market through 2017 with "demand for security products and services to be partly driven by the persistent threat landscape and influenced by the targeted and evolving attack patterns that are growing in sophistication. Within this backdrop, organisations will continue to seek the expertise and help of security technology and service providers to mitigate risks and reduce security vulnerabilities."
"Cryptzone has a strong, established set of products and services that have been widely accepted by hundreds of customers to address the security challenges facing organisations in the enterprise and government markets," said Einar Lindquist, CEO of Cryptzone. "The combination of our proven track record to develop reliable security solutions and the Medina Capital team's ability to help companies with lead generation, product development and operations will enable our company to realise its full growth potential."
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