Cryptzone has acquired HiSoftware, a leading provider of governance, compliance and security solutions.
The provider of data security and identity and access management (IAM) solutions has added the product portfolio to enhance its robust capabilities in securing critical data in the cloud, on mobile devices and in customer data centres.
According to Cryptzone, the combined offering will be a complete suite of context-aware access control, data security and compliance solutions including HiSoftware’s Compliance Sheriff Web, Security Sheriff and Site Sheriff products.
As part of the acquisition, HiSoftware CEO Kurt Mueffelmann will be named CEO of the combined entity. The acquisition also gives Cryptzone a based in Boston, Massachusetts and a European centre of excellence in engineering located in Gothenburg, Sweden.
Mueffelmann said: “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. Barry Field, partner at Medina Capital, said: “Organisations 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.
“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 organisations attempting to secure their most important data and applications.”