Imation Acquires Encryption Software Supplier Encryptx
Encryptx's portfolio includes encryption, device management and control, and digital rights management solutions that protect removable drives, flash drives, CDs, DVDs and PC data.Removable storage device maker Imation decided March 3 to quit licensing its security software and simply buy a key supplier, Encryptx Corp. Terms of the transaction were not disclosed. Ten of Broomfield, Colo.-based Encryptx's 11 employees will transfer to Imation, the company said.
Encryptx is not to be confused with EncrypTix, Inc., a formerly majority-owned subsidiary of Stamps.com that ceased operations for financial reasons almost exactly 10 years ago (March 12, 2001).