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Press Release - Printer
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FileTek
Makes Strategic Acquisition in Data Classification Market
- Addition of Desktop Information Management Products Extends Offerings
into Front Office Compliance, eDiscovery, and Content Management Space
Rockville, MD (June
5, 2007) - FileTek, Inc., a premier provider of data access and information
management software, today announced that it has purchased substantially
all of the assets, including the intellectual property, of Trusted Edge,
Inc., an innovative company that develops and delivers policy-driven desktop
classification, capture, and disposal solutions for unstructured data
such as e-mail, desktop documents, and files. The terms and financial
details of the all-cash transaction have not been publicly disclosed.
The addition of the Trusted Edge Desktop Data Management suite significantly
complements FileTek's existing high-volume data storage management solutions.
It also enables FileTek to extend its solutions portfolio to the front
office desktop applications market.
The Trusted Edge Desktop
Data Management Suite classifies desktop-generated information and data
assets according to their business value, enabling organizations to consistently
enforce retention, disposal, and hold policies across all desktops within
the enterprise. System administrators can establish business policies
to automatically categorize and tag assets at creation time to make the
content self-describing, and then route a copy of the tagged information
to a variety of content and/or document management solutions and repositories
such as Microsoft® SharePoint, IBM Content Manager, OpenText Livelink,
and EMC ApplicationXtender. Additionally, Trusted Edge can automatically
categorize and tag e-mail information to an e-mail archival solution such
as Symantec Enterprise Vault.
William P. Loomis,
CEO of FileTek, commented, "FileTek's significant investment in Trusted
Edge technology is an important juncture in the Company's corporate history.
For over 20 years, FileTek has delivered proven, large-scale information
management solutions to Fortune 1000 companies worldwide. Now, as Trusted
Edge's software becomes an integral part of FileTek's product offerings,
the Company is extremely well positioned to provide quality software,
service, and support to the desktop-based software applications market.
I look forward to implementing FileTek's success in this new business
venture."
"I also look
forward to FileTek's success," remarked Mike Beck, former CEO and
President of Trusted Edge. "As founder of Trusted Edge, I have a
personal interest in its future. Trust is a fundamental issue when you
sell intellectual property. Just as customers entrust Trusted Edge software
to policy-manage their critical desktop data, I entrust FileTek to move
the company I created to the next level. I am confident that FileTek has
the expertise and savvy to enhance product features and grow sales to
a worldwide customer base."
FileTek plans to sell
Trusted Edge software through its direct sales force as well as through
strategic partnerships and OEM relationships with industry-leading software
vendors.
About FileTek
FileTek, Inc. is a premier provider of robust data storage and access
management solutions, enabling enterprises, worldwide and across multiple
industry segments, to effectively manage and rapidly access ever-growing
volumes of historical data. FileTek is headquartered at 9400 Key West
Avenue, Rockville, MD 20850. Telephone: 301-251-0600. Fax: 301-251-1990.
FileTek's international headquarters, FileTek Ltd, is located at One Northumberland
Ave., London WC2N 5BW. Telephone: +44 (0) 207 872 5583. Fax: +44 (0) 207
753 2829. The company also has offices across North America. More information
is available at: www.filetek.com.
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