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BeCompliant Announces Acquisition of EncryptX
All Customers and technology have been transitioned to BeCompliant Corporation
BROOMFIELD, COLORADO - March 31, 2007
BeCompliant Corporation announces that it has completed an asset purchase acquisition of ENCRYPTX Corporation, including the acquisition of all customers, technology, patents, equipment and assets. A number of key employees of ENCRYPTX have also been retained. These include the President and Founder of ENCRYPTX, David Duncan, now serving as President and Managing Director of BeCompliant Corporation, David Myers, Chief Technology Officer and Founder of ENCRYPTX, now serving as Chief Technology Officer of BeCompliant Corporation, David Farmer, formerly Director of Engineering at ENCRYPTX, now Vice President of Engineering at BeCompliant Corporation, Michael Bowden, now Director of Client Services for BeCompliant Corporation, and Phil Velella, formerly Director of Eastern Regional Sales for ENCRYPTX, now Vice President of Sales for BeCompliant Corporation.
"We are grateful to the Board of Directors and the investors in ENCRYPTX who approved of this acquisition" stated David Duncan, the new President of BeCompliant Corporation. "We are equally grateful that all of the ENCRYPTX customers have approved of the assignment of their accounts to BeCompliant Corporation, including our manufacturing partners, Imation, Olixir Technology, and Hana Micron, and our end user customers including IBM, General Dynamics, Computer Sciences Corporation, Nomura Securities, ISI Group, Corus Bancshares, United Fire Group and others. We did not lose a single account as a result of this transition and we thank our customers for the continued opportunity to earn their business."
BeCompliant Corporation will retain the ENCRYPTX brand name as a Doing Business As (DBA). The company has also been relocated from Longmont, Colorado to Broomfield, Colorado as a result of the acquisition
About ENCRYPTX
ENCRYPTX, a BeCompliant Company, was founded in 1999 to develop encryption solutions for "data in motion" - information being shared on removable devices, removable media and through email. ENCRYPTX received $7.5 million in venture financing prior to the buyout by BeCompliant Corporation in March 2007. ENCRYPTX removable drive encryption solutions have been bundled on over 20 million drives worldwide by manufacturers including SanDisk, Imation, Hana Micron, Iomega, BIWIN, Olixir Technologies and CyberKey. The company provides complimentary applications, called SecurMedia, that provides automatic and transparent encryption for existing removable drives and media used throughout an organization and SecurServer, a management application used to track, manage and securely administer removable drives and media. ENCRYPTX is located at 580 Burbank Street, Suite 110, Broomfield, Colorado 80020, www.encryptx.com, Telephone 303.464.8564.
Press Contacts
ENCRYPTX
Phil Velella, Vice President of Sales and Marketing
774-249-8110
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