SOURCE: FSi

January 14, 2010 14:13 ET

FSI Formalizes Board of Directors and Announces New Funding

Investment Will Support Global Deployment of Web Security Company's IP

PALO ALTO, CA--(Marketwire - January 14, 2010) - FSI today announced it has secured a multi-million dollar investment and formalized its board of directors. Board members include Eric Benhamou, CEO of Benhamou Global Ventures; Michael Eisenberg, Benchmark Capital; Adam Fischer, Bessemer Ventures; Alex Rodgers, Harbourvest; and Daniel Chinn, Israel Seed Partners.

FSI has also retained international law firm King & Spalding, LLP and international IP trading company Marqera to further develop intellectual property opportunities. FSI was the parent company of Finjan Ltd., which was sold to M86 Security in November 2009. As part of that transaction, FSI sold the operating entity of Finjan to M86, including a nonexclusive license to Finjan's patents. FSI continues to retain all of the intellectual property associated with Finjan Limited, as well as a significant stake in M86 Security.

"FSI has rich intellectual capabilities in the vibrant field of Web security and we expect to deploy and leverage our IP globally over the next few years across the industry to create value for our investors, and the security industry in general," said Eric Benhamou, FSI board member.

The FSI patents relate to proactive scanning mechanisms that overcome the deficiencies in traditional, signature-based methods of intercepting malicious threats to computers. While signature-based methods intercept known threats, FSI's patented proactive technology is also able to detect previously unknown threats.

Proactive scanning protects against the newest wave of computer threats, and is a key feature for any fully integrated solution.

FSI recently defended its IP in the U.S. District Court in Delaware, which ruled in its favor and issued an injunction against Secure Computing Corporation, currently owned by McAfee (NYSE: MFE). The Court issued a permanent injunction against the sale of the WebWasher and TSP Products for infringement of Finjan's U.S. Patent Nos. 6,092,194 / 6,804,780 / 7,058,822.

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