The transaction amounted to €2.3m in cash and stock. Following the deal, Memopal will continue operating within Pi Campus – its founding investor – as a subsidiary of Defenx and will expand the current tech team.
The acquisition will allow Defenx to enter the cloud computing market, that is synergic with the security field.
Co-founded in 2007 by Marco Trombetti (CEO of Translated) and Gianluca Granero, Memopal provides a cloud storage platform that allows users to avoid data loss in both personal and professional use of digital technologies. The solution – which combines a compression layer that takes advantage of data similarities among users with commodity hardware and a proprietary Global File System (MGFS) – is sold directly to end-users as well as through selected partners such as Türk Telecom, HGST (a Western Digital company) and ZyXEL.
It is currently used by more than 700k active users in 75 countries.