GlobalSCAPE Announces Investment Term Sheet with CoreTrace
07 Décembre 2009 - 10:30PM
Business Wire
GlobalSCAPE, Inc. (NYSE Amex: GSB), a leading developer of
secure information exchange solutions, today announced that it has
entered into an investment term sheet with CoreTrace Corporation, a
privately held software company based in Austin, Texas. CoreTrace
develops and sells the most tamper-proof and scalable enterprise
application whitelisting solution, BOUNCER by CoreTrace™. Subject
to definitive agreements, GlobalSCAPE will invest in CoreTrace in
return for an equity position and a seat on the CoreTrace board of
directors.
Whitelisting solutions restrict or deny the operation of
applications and executables not on an approved list created by an
administrator or end user. Whitelisting technology reflects an
emerging paradigm shift within the multi-billion dollar endpoint
security market. Traditional “blacklisting” solutions, such as
anti-virus software, attempt to detect and defeat millions of
malicious software applications and unique executables by
attempting to recognize such malware and quarantining or deleting
the infected files. “Because malware has proliferated
exponentially, traditional solutions are increasingly stressed
beyond their ability to keep pace with the virus of the day,” said
Jim Morris, president and CEO of GlobalSCAPE. “The CoreTrace
whitelisting technology has tremendous potential, similar to the
early days of the anti-virus market.”
GlobalSCAPE and CoreTrace expect to have definitive agreements
in place before the end of the year. “We look forward to this
strategic investment and partnership with GlobalSCAPE,” said Toney
Jennings, president and CEO of CoreTrace. “CoreTrace is a leader in
a growing market and the GlobalSCAPE investment will allow us to
continue executing in accordance with our strategic plan, while
also providing both companies with a variety of interesting future
opportunities."
GlobalSCAPE’s Managed File Transfer (MFT) products, including
Enhanced File Transfer Server™, Secure FTP Server™ and its
industry-leading CuteFTP® product family, allow organizations to
intelligently and securely manage sensitive information in motion
and at rest, across multiple locations and with customers and
business partners. GlobalSCAPE also provides wide area file
services (WAFS) solutions that help customers collaborate across
wide area networks at local area network speeds. GlobalSCAPE’s MFT
and WAFS solutions ensure the highest levels of compliance with
government data security and privacy regulations, along with
corporate security policies and mandates.
About CoreTrace
CoreTrace® is the pioneer of client-based application
whitelisting. The company's award-winning and patented
high-security, easy-change BOUNCER solution is at the forefront of
the movement in next-generation endpoint control and security
solutions. Unlike other application whitelisting solutions that are
simply lockdown technologies, BOUNCER's "Trusted Change" capability
enables IT professionals to predefine multiple sources from which
users can safely install applications and have them automatically
added to the whitelist — all with minimal IT involvement. The
result: full prevention of unauthorized applications, improved
overall security, and lower total cost of ownership compared to
alternative whitelisting and traditional blacklisting antivirus
solutions. CoreTrace's customers include organizations in a wide
variety of industries, such as energy, oil and gas, financial
services, telecommunications, as well as government agencies.
Additional information may be found on the CoreTrace website and
on WhiteSpace, the Application Whitelisting and Security
Weblog.
About GlobalSCAPE
GlobalSCAPE, Inc. (NYSE Amex: GSB), headquartered in San
Antonio, TX, is a global provider of managed file transfer (MFT)
and wide area file services (WAFS) solutions for securely
exchanging critical information over the Internet, within an
enterprise, and with business partners. Since the release of Cute
FTP in 1996, GlobalSCAPE's solutions have continued to evolve to
meet the business and technology needs of an increasingly
interconnected global marketplace. For more information about
GlobalSCAPE's products, visit www.globalscape.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. The words
“would,” “exceed,” “should,” “anticipates,” believe,” “steady,”
“dramatic,” and variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company’s current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company’s Annual Report on Form 10-K for the 2008
calendar year, filed with the Securities and Exchange Commission on
March 31, 2009.
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