nCipher acquires IP and assets of NeoScale Systems
nCipher has acquired the majority of the intellectual property andÃ‚Â assets of NeoScale, a provider of encryption and key management products within the storage security market.
NeoScale, a venture-backed private company, based in Milpitas, California, provides a series of appliance-based encryption products under the CryptoStor brand. These are well proven and widely deployed in hundreds of customer locations worldwide, protecting sensitive information stored primarily on back-up tapes and therefore avoiding concerns over data privacy in the event the back-up tapes are stolen or misplaced.
This acquisition of the CryptoStor tape product line provides a valuable addition to nCipher’s product range, accelerating and strengthening nCipher’s position in the rapidly expanding storage encryption market. In addition, nCipher has also acquired the NeoScale KeyVault technology and product line which will be used to further enhance nCipher’s keyAuthority enterprise key management product.
In addition to enhancing nCipher’s product portfolio, this acquisition will strengthen the Company’s customer base and provide expansion opportunities in the North American and international markets. NeoScale has built an impressive network of resellers and OEM channels which has the potential to provide nCipher with the opportunity to address the encryption needs of new customers in a cost-effective manner and provide its channel partners with a wider and more compelling value proposition.