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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.”