SOURCE: Verdasys

Verdasys

April 26, 2011 09:00 ET

Verdasys Closes Out the First Quarter in Record Form

Record Q1 Bookings, New Global 2000 Customers and Strong Follow On Business Highlight Quarter

WALTHAM, MA--(Marketwire - Apr 26, 2011) - Verdasys, the leader in Enterprise Information Protection (EIP) solutions for Global 2000 companies, today announced a successful Q1 with record bookings and year-over-year growth exceeding 100%. The first quarter of 2011 was highlighted by significant new customer wins, strong follow-on sales, and the closing of a new investment round in which funding was received from the GE Pension Trust, advised by GE Asset Management. Verdasys today also announced the appointment to the Verdasys Board of Directors of Anandh Hari, Vice President, Private Equity at GE Asset Management.

New customers came from many different industries including: high-tech, telecommunications, pharmaceuticals, financial services, media/entertainment and the US Federal Government, and nine were in the G2000. Business use cases solved for these customers included: insider threat protection, intellectual property data protection, classified material protection, PII data protection in Virtual/VDI environments, and the protection of highly complex financial trading algorithms in Linux OS environments. Follow on business included over 50 transactions with 5 customers moving from initial to enterprise-wide rollouts of Digital Guardian®.

With GE Asset Management leading Verdasys' recent $15 million investment, Anandh Hari, Vice President, Private Equity at GE Asset Management has joined the Verdasys Board of Directors. Anandh has over 10 years combined experience as a private equity investor and an investment banker. He has invested in several companies in a wide range of industries and across all stages of development and serves as a board member/observer of several companies.

"Q1, 2011 marked a series of great successes for Verdasys -- record bookings, new customer wins, a new investment round, and an infusion of new talent across the company and at the board level. We are delighted to have Anandh join our board and bring his experience and talents to the company," said Verdasys CEO Jim Ricotta. "Q1 also marked the continuation of a powerful trend in which companies are moving away from limited and failing approaches of content aware data loss prevention and embracing the more comprehensive approach of enterprise information protection (EIP) that mitigates risk across a broader set of use cases including: insider threat protection, trade secret, IP, PII & PHI data protection across networks, Windows®, Linux®, SharePoint®, Citrix®, virtual machine, virtual desktop and private cloud environments. Verdasys continued success is a clear result of this growing trend."

About GE Asset Management (GEAM)

GEAM is a global asset manager wholly owned by GE, an advanced technology, services and finance company taking on the world's toughest challenges. Built on an 80-year heritage of investment experience, GEAM, along with its subsidiaries, today manages approximately $119 billion (as of December 31, 2010) in total assets. Portfolios managed by GEAM and its subsidiaries include client assets for leading institutions around the world, and the $45 billion GE Pension Trust. Investment strategies are offered across all major asset classes, including U.S. and non-U.S. equities, fixed income, and alternative assets including private equity.

About Verdasys
Verdasys (www.verdasys.com) provides Enterprise Information Protection (EIP) solutions that secure proprietary and sensitive data and the integrity of business processes essential for Global 2000 companies to successfully compete in today's highly collaborative and mobile environments. Digital Guardian, the leading EIP market solution, is a centrally-managed data security platform that discovers, classifies, monitors, controls, and encrypts sensitive information at rest, in use, and in motion across desktops, laptops, mobile devices, email, Web transactions, terminal servers and enterprise applications. Verdasys customers include the US and UK Federal Governments and global leaders in financial services, insurance, technology, manufacturing, and healthcare industries around the world. Companies serious about information protection choose Verdasys.