IronKey, a company that originally made its mark offering USB-based hardware solutions ranging from flash drives with encrypted storage, to a virtual desktop solution for carrying a secure computer operating system in your pocket, today said it will be selling off that part of its business.
This is a strategic move for Sunnyvale, California based IronKey that has decided to focus its efforts on cloud-based solutions to secure access to Internet services.
In announcement today, IronKey and Imation Corp. said that they have entered into a definitive agreement under which Imation will acquire the assets of IronKey’s secure data storage hardware business.
The companies also said they have established a partnership in which IronKey will make its cloud-based security services available to Imation, whose customers will gain access to a growing set of capabilities to manage mobile devices, encryption, security policies, fraud prevention and virtualized applications.
“IronKey will accelerate our focus to bring more cloud-based security services to market,” said Arthur Wong, CEO of IronKey.
The company recently introduced a platform along with a secure browser application, that when used in combination, can protect online banking users from being victimized—even when their systems are infected with malware.
IronKey said it would expand its security service platform to enable all enterprises to protect their assets, data and transactions. IronKey will 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 is focused on enabling enterprises and government agencies to safely adopt the economic benefits of mobile and cloud computing amidst increasingly sophisticated cyber attacks,” said Dave Jevans, founder and chairman of IronKey and of the Anti-Phishing Working Group.
Current IronKey Trusted Access customers will continue to receive product and support through IronKey and its global banking service providers. IronKey secure storage customers and partners will transition their product and support relationships to Imation.
Approximately 40 employees of privately-held IronKey are expected to transfer to Imation with the acquisition. Financial terms of the deal, expected to close within 30 days, were not disclosed.
