Cryptzone, a Boston, Massachusetts-based global provider of data security and identity and access management (IAM) solutions, acquired HiSoftware Inc., a provider of governance, compliance and security solutions.
Tha amount of the transaction was not disclosed.
HiSoftware’s product portfolio provides a complementary set of solutions that will enhance Cryptzone’s capabilities in securing critical data in the cloud, on mobile devices, and in customer data centers. Its Compliance Sheriff Web, Security Sheriff and Site Sheriff products, will be integrated into Cryptzone’s existing product set and the combined company will offer a suite of context-aware access control, data security and compliance solutions designed for today’s mobile, cloud-centric enterprise IT.
Following the close of the deal, Cryptzone will be headquartered in Boston, Massachusetts and have a European center of excellence in engineering located in Gothenburg, Sweden.
Combined, the companies will have more than 700 customers including large global enterprises like JPMorgan Chase, Northrup Grumman, AIG, Proctor & Gamble, State Street Trust, New York Presbyterian, ANZ Bank, and California State University, as well as some large U.S. government agencies such as the Departments of Commerce, Department of Homeland Security, Office of Secretary of Defense, and Department of Treasury/IRS.
As part of the acquisition, HiSoftware’s CEO, Kurt Mueffelmann, will be named CEO of the combined entity.
Cryptzone is a portfolio company of Medina Capital, a high-growth equity investment firm focused on the IT infrastructure sector.