PGP Corporation Acquires TC TrustCenter & ChosenSecurity
HAMBURG and MENLO PARK, Calif., Feb. 2 /PRNewswire-AsiaNet/ --
Acquisition accelerates plans to enable trust across multiple
security applications
PGP Corporation, a global leader in enterprise data protection, and TC
TrustCenter today announced that the companies have signed a definitive
agreement under which PGP Corporation will acquire privately-held TC
TrustCenter and its U.S. parent company, ChosenSecurity. TC TrustCenter,
based in Germany, and ChosenSecurity, based in Newton, Massachusetts, provide
an on-demand platform for managing trusted identities used for encryption,
authentication, and secure collaboration.
Organizations of all sizes are struggling to manage a diverse array of
security applications to protect their data, meet compliance mandates and
know that sources are trusted. With today's announcement, PGP Corporation is
adding to its core competency in data protection and now offering managed
trusted identities for encryption, authentication, and secure collaboration.
PGP(R) customers will be able to bridge third party security applications
with the industry-leading, standards-based and scalable PGP(R) encryption and
key management applications utilizing the PGP(R) Platform with its
centralized policy engine.
TC TrustCenter's platform enables secure, trusted electronic transactions
across individuals, servers, and mobile devices. Applications such as
web-based banking, rely on TC TrustCenter identities to secure SSL
transactions, authenticate mobile applications, and create legally
enforceable digital signatures. With billions of new network-enabled devices
each year and applications moving to the cloud, the risks to data will only
continue to multiply as will the need for an integrated "trusted data
protection" approach that integrates encryption, key management and identity
and access from trusted vendors such as PGP Corporation, TC TrustCenter and
ChosenSecurity.
"Trusted identities are a crucial component for data protection solutions
that secure sensitive data," said Phillip Dunkelberger, president & CEO of
PGP Corporation. "With this acquisition, PGP Corporation is gaining an
extensible platform that will dramatically accelerate its vision of
delivering integrated data protection across vendors, technologies, and
devices."
"Internet transactions depend upon a foundation of trust," said Jon
Oltsik, Principal Analyst at Enterprise Strategy Group. "With its acquisition
of TC TrustCenter and ChosenSecurity, PGP Corporation is establishing itself
as a provider of globally trusted identities for not only its own
applications, but other high value applications and transactions. PGP
Corporation now owns an enabling technology for secure trusted Internet
communications."
Over the past decade, TC TrustCenter has gained a reputation in Europe as
a leading provider of managed trust services for the financial, automotive
and utilities sectors. TC TrustCenter's deep expertise delivering managed
services will complement PGP Corporation's own expertise building automated,
policy-driven data protection products.
"TC TrustCenter's managed PKI solution provides the foundation for a wide
variety of data protection applications," said Dr. Sabine Kockskamper,
Managing Director and co-founder of TC TrustCenter. "We're delighted to be
joining forces with PGP Corporation to build new solutions that combine our
managed services with their data protection applications."
"PGP Corporation and TC TrustCenter share a product vision about making
security usable and easily adopted by enterprise customers for maximum
flexibility, ease of deployment, and administration," added Bob Steinkrauss,
President & CEO of ChosenSecurity. "By acquiring ChosenSecurity and TC
TrustCenter, PGP Corporation is gaining a unique software-as-a-service
offering that addresses customer's needs for simple and flexible security
solutions that can be deployed, scaled, and adapted as their needs change."
Following the acquisition, ChosenSecurity and TC TrustCenter will
continue to sell and support their existing products, and will develop new
offerings that integrate with PGP Corporation's product line. PGP Corporation
has appointed Rajiv Dholakia as the General Manager of the newly formed
division.
Terms of the transaction were not disclosed.
About PGP Corporation
PGP Corporation is a global leader in email and data encryption software
for enterprise data protection. Based on a unified key management and policy
infrastructure, the PGP(R) Encryption Platform offers the broadest set of
integrated applications for enterprise data security. PGP(R) platform-enabled
applications allow organizations to meet current needs and expand as security
requirements evolve for email, laptops, desktops, instant messaging,
smartphones, network storage, file transfers, automated processes, and
backups.
PGP(R) solutions are used by more than 100,000 enterprises, businesses,
and governments worldwide, including 95 percent of the Fortune(R) 100, 75
percent of the Fortune(R) Global 100, 87 percent of the German DAX Index, and
51 percent of the U.K. FTSE 100 Index. As a result, PGP Corporation has
earned a global reputation for innovative, standards-based, and trusted
solutions. PGP solutions help protect confidential information, secure
customer data, achieve regulatory and audit compliance, and safeguard
companies' brands and reputations. Contact PGP Corporation at
Media & Analyst Contacts for PGP Corporation:
North America
Tom Rice
Merritt Group
+1 703 856 2218
rice@merrittgrp.com
United Kingdom
Jacqui Depares / Ben Roberts
Johnson King
+44 (0) 20 7401 7968
pgpteam@johnsonking.co.uk
Germany
Ingrid Daschner
Johnson King
+49 (0) 89 8940 8511
ingridd@johnsonking.de
Legal Notice Regarding Forward-Looking Statements
Some of the statements in this press release are forward-looking,
including statements regarding the availability, plans, delivery, goals,
development, expected features, expected benefits and competitive position of
PGP products implementing or leveraging the PGP technologies. All references
made to product feature enhancements, improvements in Platform support or
additional functionality are subject to change at PGP Corporation's sole
discretion. All future descriptions of PGP technology and products are
subject to availability only if PGP Corporation decides to build them and
when PGP Corporation decides to make them commercially available. Actual
results could differ materially from those expressed in any forward-looking
statements. Risks and uncertainties that PGP Corporation faces that could
cause results to differ materially include risks associated with any
unforeseen technical difficulties or software errors related to the final
development and launch of any of PGP Corporation's products; any
technological, regulatory, or standards changes in the security, encryption
and authentications market which could make PGP Corporation's products less
competitive or require feature changes in these products; any slowdown in the
adoption by businesses of encryption suites, secure email, Internet
technologies or related standard. The forward-looking statements contained in
this release are made as of the date hereof, and PGP Corporation does not
assume any obligation to update such statements nor the reasons why actual
results could differ materially from those projected in such statements.
PGP and the PGP logo are registered trademarks of PGP Corporation.
Product and brand names used in the document may be trademarks or registered
trademarks of their respective owners. Any such trademarks or registered
trademarks are the sole property of their respective owners.
SOURCE PGP Corporation
CONTACT: Media & Analyst,
Tom Rice of Merritt Group,
+1-703-856-2218,
rice@merrittgrp.com; or
United Kingdom,
Jacqui Depares or Ben Roberts, both of Johnson King,
+44 (0) 20 7401 7968,
pgpteam@johnsonking.co.uk, or
Germany,
Ingrid Daschner of Johnson King,
+49 (0) 89 8940 8511,
ingridd@johnsonking.de
all for PGP Corporation
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