Breaking News -
Security:
Acquisition Extends Assurency Into
A Grid Security Solution
Kasten Chase, a leading provider of high-assurance data security solutions,
announced that it has purchased all of the outstanding shares of CipherShare
Systems Inc.
CipherShare, a privately-held company based in Toronto, has developed
secure
file sharing and workgroup collaboration software. This acquisition fits into
Kasten Chase's strategy for building a truly enterprise-wide security solution
that protects data assets in transit and at rest with strong, end-to-end
encryption.
"Theft of proprietary information, most often in the form of customer lists
and related data, is by far the most costly of all security breaches. The
recent high profile breaches suffered by several organizations has cast an
even brighter light on the limitations of perimeter-centric security, such as
firewalls, in protecting against such attacks," said Paul Hyde, Chief
Executive Officer of Kasten Chase. "Companies must consider a 'defense in
depth' or layered approach to securing sensitive customer data and other
proprietary information, where if one defensive tier should fail, another will
provide the necessary protection. This approach includes not only perimeter
safeguards to protect computing infrastructures, but also encryption to
protect data.
"We have a vision for a comprehensive, end-to-end security solution that
protects valuable data assets at work, in transit, and at rest, with
encryption, authentication and other key safeguards. This solution will secure
data assets throughout an organization - from storage farms at the core of the
enterprise, through the networks, and while stored on end-user devices."
The CipherShare acquisition accelerates Kasten Chase's ability to deliver
this
solution. CipherShare's best-of-breed file security software will be
integrated into the Kasten Chase Assurency suite of data security solutions,
and provide the first enterprise-wide data security solution of its kind.
Kasten Chase has been working collaboratively with CipherShare for several
months to achieve this objective.
"It is estimated that well over 50% of security breaches that actually
cause
loss to enterprises involve insiders," continued Hyde. "This means that in
addition to security measures designed to keep external intruders at bay, a
company must also adopt safeguards that effectively address internal threats.
As part of comprehensive security architecture, the best deterrent for
internal data theft or loss is end-to-end encryption and rigorous access
controls, and this is what we plan to deliver."
Under the terms of the acquisition agreement, Kasten Chase will issue 1.3
million shares and pay up to $450,000 to the shareholders of CipherShare. All
full-time CipherShare employees will join Kasten Chase.
About Kasten Chase
Kasten Chase, a leader in high-assurance data security, builds trust and
confidence in the connected world. Certified by the U.S. National Security
Agency and pre-approved by the Canadian Communications Security Establishment,
the company's RASP Data Security portfolio protects some of the most
sensitive information in the world. Assurency, Kasten Chase's portfolio of
enterprise security solutions protects data in transit and at rest, to enable
business-critical applications, secure vital IT infrastructure and ensure the
privacy of sensitive customer data. The company is a pioneer in the
development of security solutions for networked data storage. Kasten Chase
achieved ISO-9001 certification in 1995.
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