Wave Systems Acquires Data Loss Protection Company

Wave Systems Corp. (NASDAQ: WAVX) has completed the acquisition of Safend Ltd., a provider of endpoint data loss protection solutions, including port and device control, encryption for removable media, content inspection and discovery, for approximately $12.8 million.

 

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"The addition of Safend's complementary product suite creates strong cross-selling opportunities into the healthcare, financial and government verticals where data loss protection is a high priority. Safend's reseller channel, combined with its direct sales force and strong presence in EMEA, gives Wave new sales resources with access to new market opportunities. Headquartered in Tel Aviv, Israel, with offices in Philadelphia, Safend has approximately 70 employees. Prior to the acquisition, Safend was backed by prominent technology venture capital investors including Elron Electronics Industries Ltd. (Tel Aviv Stock Exchange: ELRN), Intel Capital​ and Walden Israel Venture Capital."

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