Combined Company Offers Powerful Suite of Dynamic Access Management, Data Security and Compliance Solutions
Boston, MA / Gothenburg, Sweden – September 5, 2014 – Cryptzone, a global provider of data security and identity and access management (IAM) solutions, has acquired HiSoftware Inc., a leading provider of governance, compliance and security solutions. HiSoftware’s product portfolio provides a highly complementary set of solutions that will enhance Cryptzone’s already robust capabilities in securing critical data in the cloud, on mobile devices, and in customer data centers. The combined company will offer a complete suite of context-aware access control, data security and compliance solutions designed for today’s dynamic, mobile, cloud-centric enterprise IT. Cryptzone will be headquartered in Boston, Massachusetts and have a European center of excellence in engineering located in Gothenburg, Sweden, its birthplace. Combined, the companies will have more than 700 customers including large global enterprises like JPMorgan Chase, Northrup Grumman, AIG, Proctor & Gamble, State Street Trust, New York Presbyterian, ANZ Bank, and California State University, as well as some large U.S. government agencies such as the Departments of Commerce, Department of Homeland Security, Office of Secretary of Defense, and Department of Treasury/IRS.
Cryptzone will look to integrate HiSoftware’s advanced suite of solutions, including its Compliance Sheriff Web, Security Sheriff and Site Sheriff products, into the company’s existing product set. This will provide expanded and unique capabilities that will allow the company to deliver powerful security that protects enterprise information assets, corporate applications, and other network resources for customers around the globe. HiSoftware’s compliance product allows enterprises and government agencies to validate compliance of internal and external website content against predefined and user-defined policies, including HIPAA, FISMA, WCAG, US Section 508, and GLBA. The company also specializes in delivering content security and site management solutions within Microsoft SharePoint, a business collaboration platform utilized by more than 80 percent of the Fortune 500, and other unstructured collaborative environments.
As part of the acquisition, HiSoftware’s CEO, Kurt Mueffelmann, will be named CEO of the combined entity. Mueffelmann has over 20 years of experience in the software industry and has led HiSoftware to steady growth since 2006. Mueffelmann’s leadership and expertise has earned two companies under his charge, including HiSoftware, a spot on the Deloitte Fast 500, a revenue-based awards program honoring the top growing technology companies.
“This is an exciting time for Cryptzone and HiSoftware, as well as our rapidly growing customer base,” said Mueffelmann. “I look forward to shepherding the union of these two fast-paced companies to create an unrivaled product offering to dynamically mitigate data security risk and ensure compliance so customers can confidently and securely collaborate and focus on getting business done.”
Cryptzone is a portfolio company of Medina Capital, a high-growth equity investment firm focused on the IT infrastructure sector.
“Organizations across the private and public sectors are constantly trying to stay ahead of the evolving security threats that present themselves in today’s market while also improving the oversight of their governance practices in order to conform with stringent financial and operational compliance standards,” said Barry Field, partner at Medina Capital. “Combining the sophisticated capabilities of Cryptzone’s leading-edge identity and access management solutions with HiSoftware’s advanced governance, risk management and compliance solutions will create a highly differentiated offering in a fast-growing market. Through this acquisition, we believe the ‘new’ Cryptzone will be uniquely positioned to deliver end-to-end solutions for organizations attempting to secure their most important data and applications.”
