GlobalSCAPE Completes Definitive Agreements with CoreTrace
11 Janvier 2010 - 1:00PM
Business Wire
GlobalSCAPE, Inc. (NYSE Amex: GSB), a leading developer of
secure information exchange solutions, today announced that it
completed its investment in CoreTrace Corporation, a privately held
software company based in Austin, Texas, in late
December 2009. CoreTrace develops and sells the most
tamper-proof and scalable enterprise application whitelisting
solution, BOUNCER by CoreTrace™.
GlobalSCAPE invested $2.3 million in CoreTrace in return for a
preferred equity position. “We are excited to lead the Series B
round of investment in CoreTrace,” said Jim Morris, president and
CEO of GlobalSCAPE. “Information security professionals and leading
industry analyst firms such as Gartner recognize the potential of
whitelisting technology as a game changer in endpoint security
solutions.”
Endpoint security solutions include antivirus, anti-spyware,
firewall, intrusion prevention, data and file encryption, and other
product categories. Whitelisting is a relatively new entrant into
this security market. Unlike traditional ‘blacklisting’ solutions
which rely on detecting and defeating millions of malicious
software applications and unique malware executables, whitelisting
allows users to lock servers, personal computers, and other devices
into a known, trusted state and allows only ‘good’ applications to
run.
CoreTrace achieved industry prominence in 2008 following the
"Race to Zero" contest held at DEFCON 16 in Las Vegas, Nevada.
"Race to Zero" contestants were asked to pass various exploits
through antivirus engines without detection. CoreTrace's BOUNCER
was the single-most successful solution for stopping the malware
attacks. BOUNCER stopped 100 percent of the entered viruses while
traditional blacklist-based antivirus solutions detected an average
of 60 percent.
With the completion of the investment, Craig Robinson,
GlobalSCAPE Chief Operating Officer, has joined the CoreTrace board
of directors. “The CoreTrace executive team has proven their
ability to deliver innovative security solutions and GlobalSCAPE
looks forward to collaborating on future initiatives,” said
Robinson. “Whitelisting solutions can operate in concert with
anti-malware software to improve endpoint security today, and
potentially replace traditional antivirus technology at some point
in the future.”
Toney Jennings, CoreTrace president and CEO, notes that the
company’s accomplishments during 2009 and the GlobalSCAPE
investment provide a basis for additional market expansion in 2010.
“Last year we released our BOUNCER 5.0 solution and received
multiple independent validations of our whitelisting capabilities,”
Jennings said. “We have added dozens of new enterprise accounts and
are consistently recognized as a leader in this high growth market.
The GlobalSCAPE investment will allow us to reach thousands of
additional customers and accelerate our growth as a leading
provider of solutions that deliver the next generation of endpoint
security capability.”
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 and services, visit www.globalscape.com or
the company’s Secure Info Exchange blog.
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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