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    Home Cybersecurity
    • Cybersecurity
    • IT Management
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    • Storage

    Imation Acquires Encryption Software Supplier Encryptx

    By
    Chris Preimesberger
    -
    March 3, 2011
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      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).

      It just made a lot more fiscal sense for Minnesota-based Imation to bring the small security firm into its realm, rather that continue to license the software, and Imation spokeswoman told eWEEK

      “Imation has essentially already integrated the encryption technology. Now they’re just purchasing the company outright,” the spokeswoman said.

      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. Encryptx products are federally approved for purchase under a U.S. Government ESI/SmartBuy Contract, Imation said.

      Imation also owns the Memorex, TDK and XtremeMac brands.

      Avatar
      Chris Preimesberger
      https://www.eweek.com/author/cpreimesberger/
      Chris J. Preimesberger is Editor-in-Chief of eWEEK and responsible for all the publication's coverage. In his 16 years and more than 5,000 articles at eWEEK, he has distinguished himself in reporting and analysis of the business use of new-gen IT in a variety of sectors, including cloud computing, data center systems, storage, edge systems, security and others. In February 2017 and September 2018, Chris was named among the 250 most influential business journalists in the world (https://richtopia.com/inspirational-people/top-250-business-journalists/) by Richtopia, a UK research firm that used analytics to compile the ranking. He has won several national and regional awards for his work, including a 2011 Folio Award for a profile (https://www.eweek.com/cloud/marc-benioff-trend-seer-and-business-socialist/) of Salesforce founder/CEO Marc Benioff--the only time he has entered the competition. Previously, Chris was a founding editor of both IT Manager's Journal and DevX.com and was managing editor of Software Development magazine. He has been a stringer for the Associated Press since 1983 and resides in Silicon Valley.

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