Novacap Technologies has led an acquisition of Pkware, a Milwaukee-based provider of enterprise data-centric security and compression software. No financial terms were disclosed. Other members of the buying consortium included Maranon Capital, Garrett Investments and members of Pkware management.
PKWARE, a leading provider of enterprise data-centric security and compression software, today announced that the company has recently been acquired by a group of investors. The investment group, led by Novacap Technologies, also includes Maranon Capital, Garrett Investments, LLC and PKWARE executives. The new funding will be used to expand the worldwide market share of PKWARE’s data security and compression products.
“This is a great new chapter in PKWARE history for both our employees and customers; it demonstrates our company’s strength, even within the current economic environment,” said Eric Lien, Vice President of Marketing for PKWARE. “PKWARE has increased revenue and profits more than ten fold since 2001 and partnering with such a strong group of investors will help to further accelerate our success.”
The enterprise security software market is predicted to reach $10.9 billion in 2009 according to Gartner analysts. “Growing concerns over compliance regulations, audit requirements and improving data center performance have driven tremendous demand for PKWARE products,” said Lien. “This recent investment in PKWARE will allow us to continue to strengthen our product portfolio to meet the growing needs of our customers.”
SecureZIP by PKWARE helps enterprise, government and small business customers avoid the costs, legal penalties and damaged reputations caused by data that is compromised. The effective policy management tools and data-centric design offer transparency and ease of use, while still enabling appropriate organizational security controls. SecureZIP is interoperable, providing users comprehensive data protection across all major computing platforms.
PKZIP by PKWARE provides file management and data compression across all major computing platforms. This results in more efficient data exchange through reduced transmission times and required storage requirements.
PKWARE, Inc. (www.pkware.com) is a global market and technology leader providing data-centric, cross-platform security & compression software. Today, the SecureZIP and PKZIP product families are used by over 200 government agencies and 30,000 corporate entities, including 90% of the Fortune 100. PKWARE products ensure data security, portability and cross-platform computing exchange of data – both internally and externally with partners. Organizations in financial services, banking, healthcare, government and retail use PKWARE products daily for their unmatched scalability, ease of use and rapid deployment. PKWARE is the inventor and continuing innovator of the ZIP standard. PKWARE, a privately held company, is based in Milwaukee, WI with additional offices in New York, Dayton and the United Kingdom.