Data loss protection (DLP) vendor Safend has been acquired by Wave Systems for around $12.8 million (£8.2 million).
According to Wave, the addition of Safend's product suite creates strong cross-selling opportunities in the healthcare, financial and government verticals; its reseller channel, direct salesforce and EMEA presence will also provide new market opportunities.
Wave offers security capabilities built directly into endpoint computing platforms, rather than through layers. Safend, which recently won the SC magazine award for Best DLP Solution, confirmed that it will retain its executive team, including founder Gil Sever.
Sever said: “Wave and Safend share a complementary vision for the future of data security, work with the same types of industry-leading customers and have a respect for each other's culture of innovation.
“Joining Wave is a strategic move that we believe will deliver significant benefit for Safend customers, partners and employees. Together, we have an opportunity to further strengthen our leadership position in data security by creating new, innovative and integrated products and capabilities to solve our customers' most complex security challenges.”
Steven Sprague, CEO and president of Wave, said: “With the escalation of cyber threats and an increasingly mobile workforce, many customers are looking for an integrated and cohesive security solution across the data lifecycle, from data-at-rest to data-in-motion and, ultimately, to archiving.
“Safend's award-winning suite of DLP, port control and removable media encryption software strengthens our existing portfolio of data encryption and device authentication solutions. The acquisition will enable Wave to deliver a holistic, trusted computing management platform that roots software security to trusted computing hardware and provides the enterprise with interoperability across all platforms.
“Having gotten to know the Safend principals, the technical team, their products and the market opportunity over the past several months, the benefits of joining forces became clear to all of us.”