IronKey, Imation Partner on Secure Cloud AccessBy Nathan Eddy | Posted 2011-09-20 Email Print
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Imation will acquire the security hardware component of IronKey’s business as part of the deal.
IronKey, a provider of secure data and online access platforms, announced a partnership with data storage and protection specialist Imation dedicated to helping businesses store, protect and connect to cloud-based data and services. The partnership would allow IronKey to focus its efforts on helping enterprises secure access to cloud-based Internet services, the companies said in a joint statement.
As part of the deal, Imation will acquire the security hardware component of IronKey’s business, and the two companies will partner to offer IronKey online security services to enterprises, financial institutions, governments and consumers. Founded in 2005, IronKey’s online security services protect the data, passwords and transactions of more than 3,000 government agencies, enterprises and their employees and customers.
Arthur Wong, CEO of IronKey, said IronKey would expand its security service platform to enable all enterprises to protect their assets, data and transactions and support multiple form factors and applications, including portable USB devices, software and mobile applications, for IronKey Trusted Access and other new IronKey security services. "IronKey will accelerate our focus to bring more cloud-based security services to market," Wong said. "IronKey Enterprise security services are used by thousands of companies to protect their employees and customers. The IronKey Trusted Access Platform service is used by financial institutions to prevent online banking fraud and achieve compliance with new FFIEC requirements."
As part of this strategy, IronKey and Imation announced that they have entered into a definitive agreement under which Imation will purchase the assets of IronKey’s secure data storage hardware business. The agreement also establishes an ongoing partnership between the companies. IronKey will make its cloud-based security services available to Imation, whose customers will gain access to a set of capabilities to manage mobile devices, encryption, security policies, fraud prevention and virtualized applications.
According to industry analyst Technavio, the cloud security solutions market is growing at more than 41 percent per year. As a result, IDC predicts 46 percent of net new growth in IT spending will come from cloud-based solutions. All IronKey Trusted Access customers will continue to receive product and support through IronKey and its global banking service providers, and IronKey secure storage customers and partners will transition their product and support relationships to Imation.
"Cyber-crime will challenge the entire global economy as enterprises, governments and consumers become more mobile, and move applications and data into the cloud," said Dave Jevans, founder and chairman of IronKey and of the Anti-Phishing Working Group. "This year we’ve seen some of the world’s most respected companies and government agencies humbled by significant losses due to new threats from hacktivists, hostile nation states, cyber-criminals and advanced persistent threats (APTs). IronKey is focused on enabling enterprises and government agencies to safely adopt the economic benefits of mobile and cloud computing amidst increasingly sophisticated cyber-attacks."