August 29, 2011 10:09 ET

IronKey Deepens Experience in Security and Cloud Services With New Executive Appointments

SUNNYVALE, CA--(Marketwire - Aug 29, 2011) - Two Silicon Valley executives will help IronKey continue its exponential growth by deepening its experience in cloud-based security services, the company announced today. IronKey named Mark Schulte as CFO and ex-Symantec marketing exec Ajay Nigam as senior vice president of product management. Schulte will be responsible for financial management and corporate accounting. Nigam will lead IronKey's product management and strategy team.

Schulte brings a wealth of experience leading technology companies through fast growth and expansion. Most recently, he was vice president of finance and CFO for Right90, Inc., an on-demand software provider acquired by Trilogy/Versata. Previously, at Coremetrics, Inc. (acquired by IBM), he focused on scaling the company by optimizing its subscription-based Software-as-a-Service (SaaS) model. Earlier, Schulte joined WebEx prior to their IPO, where he created and scaled the financial planning and analysis function as the company grew exponentially until its acquisition by Cisco. Schulte earned a B.S. in Business Administration from the University of Delaware and an MBA from Chapman University.

"IronKey continues to deliver record bookings quarter-over-quarter and the need for solutions to combat online banking fraud continues to grow," said Schulte. "The company's financial strength positions us well to execute on our vision and strategy of developing new, innovative cloud-based security services for customers."

Ajay Nigam joined IronKey from the Symantec Services Group, where as vice president of service product management he successfully launched solutions that combined hybrid services delivery with a mix of on-premise and in-the-cloud solutions. He also held leadership positions at VeriSign, Mossbeach Technology and Hughes Software Systems.

"With regulators and industry experts such as Gartner, FFIEC, FBI and NACHA all calling for immediate action to counter online banking fraud, IronKey has a tremendous market opportunity," said Nigam. "IronKey was one of the first companies to capitalize on cloud-based device management to become the leader in secure storage devices. Now IronKey is bringing its expertise in cloud delivery to help banks transform their security models to dramatically reduce risk and protect their customers across multiple channels including Internet and mobile."

"Adding Mark and Ajay bolsters an already strong team. I'm looking forward to their contributions as we grow value for our investors, employees and customers," said IronKey CEO Arthur Wong.

About IronKey

Ranked as the 14th best venture-funded company in The Wall Street Journal's "Next Big Thing 2011" survey, IronKey secures data and online access with software and hardware solutions managed through cloud-based services. IronKey's award-winning Trusted Access for Banking helps financial institutions reduce the risk of online fraud and acquire new customers by enabling secure browsing safe from crimeware attacks on their clients' PCs. Trusted Access meets new Federal Financial Institutions Examination Council (FFIEC) guidelines for layered online banking security as well as recommendations from the FBI and NACHA. IronKey's industry-leading mobile data protection solutions prevent costly data breaches with military-grade encrypted portable storage devices and cloud-based management. Visit for more information.

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