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Acquisition Will Accelerate Company's Global Expansion and Aggressive Growth Strategy in the US
BASINGSTOKE, UNITED KINGDOM and SAUSALITO, CA--(Marketwired - Feb 17, 2016) - CensorNet, the complete cloud security company, today announces that it has acquired multi-factor authentication vendor SMS PASSCODE in a closed deal. CensorNet will integrate SMS PASSCODE's adaptive multi-factor authentication technology into its cloud-based Unified Security Solution, which brings together email and web security with Cloud Application Control (CAC).
Garrett Bekker, Senior Analyst at 451 Research, comments: "Enterprises can derive more value from security when they can see the complete, bigger picture. While CAC products can provide part of that picture by helping improve visibility and dealing with 'Shadow IT,' enterprises will ultimately need to combine CAC with other techniques such as multi-factor authentication to obtain a more holistic view of their overall SaaS security posture."
CIOs and IT departments are under increasing pressure to provide employees with reliable and secure web access, while controlling the use of cloud applications; all without compromising data security. Instead of going through the red tape of IT procurement, provisioning, testing and security, employees are quick to download the latest app to access or share data. Such a quick fix can have damaging implications on a company's most valuable corporate assets -- its intellectual property and brand reputation. Despite improved security education and awareness within businesses, the reality is that three quarters of network intrusions involve weak or stolen passwords1; highlighting the market requirements for a product that integrates multifactor authentication into a cloud based Unified Security Solution.
Commenting on the acquisition, Ed Macnair, CEO of CensorNet, says: "As the first vendor anywhere in the world to offer Cloud Application Control combined with web security, and experience built from thousands of users, we recognized that with the growth of cloud applications, CIOs are under immense pressure to encourage productivity yet protect sensitive data at the same time. Our vision is to provide organizations with single pane of glass that gives them total visibility and control of web, cloud applications and email. With weak or stolen passwords still being the major source of network breaches, integrating SMS PASSCODE's adaptive authentication capability to our solution was a no brainer."
"Not only will our merged technologies give the enterprise complete control and visibility over what data their staff access, but it gives them absolute certainty as to their identity and location. For example, they can now allow a certain file to be downloaded or printed when on the corporate network, but not when sat in an airport lounge," says Macnair. "I am very excited about adding SMS PASSCODE to our portfolio. It is a significant step in completing our vision to provide our customers with a truly unified cloud security solution to help address the challenges of a digital work environment, and makes us the leader in the CASB space."
CensorNet was the first security vendor to offer Secure Web Gateway solution with inbuilt Cloud Application Control, offering cost efficiencies to businesses wanting to plug the widening security risk gap caused by cloud applications. Its cloud based Unified Security Solution combines web security, cloud application and email security on one single security platform; providing senior management with greater visibility and much better control to IT in the supervision of company-wide internet access and the use of cloud applications across all devices, regardless of whether users are in-office or mobile.
David Hald, Chief Relationship Officer at SMS PASSCODE, comments: "Organizations in more than 40 countries are already using SMS PASSCODE to securely authenticate access to services while preventing identity theft. CensorNet and SMS PASSCODE have complementary technologies to protect enterprises against deliberate and inadvertent security breaches, and by offering our integrated technologies on one single security platform, we will protect our customers from the modern challenges of cloud applications."
The acquisition means that CensorNet will now boast a truly global footprint, with over 4,000 customers across 40 countries, and will be protecting over one million users from its offices throughout EMEA and the US.
1 Verizon Data Breach Investigations Report, 2013
CensorNet, the complete cloud security company, helps organisations step up to the challenge of managing the rise of cloud applications in an increasingly mobile work environment. Its solutions give greater visibility to senior management and much better control to IT in the supervision of company-wide internet access and the use of cloud applications across all devices, regardless of whether users are in-office or mobile. It gives organisations the power to address the security, audit, compliance and productivity issues associated with the growing use of cloud applications and mobile devices in today's digital workplace. CensorNet's cloud security solutions also enable organisations to control Shadow IT and safely implement BYOD initiatives. The company is headquartered in Basingstoke, UK. For more information, please visit www.censornet.com