SOURCE: Verdasys

Verdasys

April 12, 2011 08:00 ET

Verdasys Secures $15 Million From GE Pension Trust to Fund Expansion

Investment to Accelerate Product Development and Geographic Expansion for EIP Market

WALTHAM, MA--(Marketwire - Apr 12, 2011) - Verdasys, the leader in Enterprise Information Protection (EIP) solutions for Global 2000 companies, announced today that it has received $15 million in funding from the GE Pension Trust, advised by GE Asset Management. This investment will enable Verdasys to expand the Digital Guardian™ Platform into mobile devices and cloud security as well as add to its growing team and expand distribution channels into new markets around the world. The investment is another step in the company's continued growth as Verdasys recently announced a strong FY 2010 that was highlighted by record bookings in Q4, significant customer wins and several new additions to the management team.

"We are delighted to have GE Asset Management join our investor group as we continue to grow our leadership in the Enterprise Information Protection market. This investment will enable us to further extend our reach to solve the growing challenges of 'insider threat and information protection' for an increasing number of large enterprises and governments," said Verdasys CEO Jim Ricotta.

"We have been impressed with Verdasys' foresight to broadly define the Enterprise Information Protection market and deliver the leading integrated platform that meets the needs of that market," said Anandh Hari, Vice President, Private Equity at GE Asset Management. "The Digital Guardian platform offers the insight and capability to discover and then control sensitive data across a global enterprise and in doing so enables organizations to be more collaborative and therefore more competitive. We believe that Digital Guardian's proven success in Global 2000 companies and the leadership position that Verdasys has achieved along with our investment will enable the company to drive its solution to deeper adoption across a broad audience in the U.S. and around the globe."

Verdasys' Chairman of the Board, Fairhaven Capital's Dan Keshian added, "Today's enterprises are looking to secure ever growing amounts of sensitive information while they adopt new technologies like cloud-based services or manage the challenges of smart phones, tablets, and the consumerization of technology in the business place. With this new investment, Verdasys is in a position to extend its market-leading platform into these new areas while continuing to grow in its core markets of IP & Trade Secret protection, Insider Threat Mitigation and Privacy Data Protection across its Global 2000 customers."

Verdasys' solutions enable enterprises to control sensitive data through its centrally managed enterprise information protection 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, virtual environments, enterprise applications and cloud environments.

About GE Asset Management

GE Asset Management 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 and individual investors 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 Protections (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 the global leaders in financial services, insurance, technology, manufacturing, and healthcare industries around the world. Companies serious about information protection choose Verdasys.