McAfee buys into encryption market
McAfee has agreed to acquire encryption expert Safeboot for $350m in cash.
Safeboot markets data protection software that uses encryption and access protection. The technology primarily targets mobile computers.
Privately held Safeboot is based in The Netherlands and last year boasted revenues of €28.9m. The company last month had filed for an initial public offering at the Euronext exchange.
Unencrypted data is a common source of leaks of confidential information. A stolen laptop from the US Department of Veteran's Affairs in May 2006 exposed information on 28.6m former servicemen.
On Monday, the HM Revenue and Customs was forced to disclose the theft of a laptop from an employees car trunk. The computer contained information on an undisclosed number of high value customers who had invested in Individual Savings Accounts.
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