14 DAY TRIAL // In a bid to expand it data protection product portfolio, security vendor Trend Micro has signed a definitive agreement to acquire Mobile Armor, a company specializing in encryption solutions.
Based in St. Louis, MO, Mobile Armor is currently majority-owned by a New York venture capital firm called Dolphin Equity Partners. It's customers include the U.S. Army and Navy, as well as big companies from the healtcare and financial services sector.
The company offers a full range of encryption solutions for desktops, laptops, tablets, smartphones and USB memory sticks, designed with a strong focus on compliance.
In a time when governments are strengthening data protection laws that require companies to safeguard sensitive data or face serious penalties, encryption plays a very important role.
For example, the UK Information Commissioner's Office (ICO) recently fined an employment services company with £100,000 after one of its laptops was stolen. It contained the unencrypted personal details of 24,000 individuals.
Mobile Armor offers solutions that ensure compliance with the Health Information Technology for Economic and Clinical Health Act (HITECH), the Health Insurance Portability and Accountability Act (HIPAA), the Payment Card Industry's Data Security Standard (PCI DSS), and state data breach laws.
"This acquisition will expand our endpoint security market reach and will provide our customers with proven technology for encrypting data on laptops, tablet PCs, and smartphones," said Trend Micro's CEO, Eva Chen.
"Mobile Armor's solutions further our vision of protecting digital information wherever it resides and complements our recent announcement of Trend Micro SecureCloud for securing and controlling data in the cloud," she added.
The terms of the deal have not been disclosed, but Trend Micro expects to finalize the acquisition by the end of this year, once all closing and regulatory conditions are met.
"Trend Micro's worldwide reach and extensive resources will add value to Mobile Armor's customer base," said Michael Menegay, CEO, Mobile Armor.