|Combination of Watchfire's Online Privacy and Regulatory Solution and Sanctum's Market Leading Web Application Security Creates Industry's Most Comprehensive Online Risk Management Platform|
Watchfire, provider of WebXM(TM), the leading enterprise software platform for managing online business, today announced it has acquired Sanctum, the pioneer and established leader in web application security testing and firewall software. This acquisition significantly broadens Watchfire's WebXM enterprise platform, making it the only vendor to monitor, measure, manage and secure all aspects of an organization's online business. This combined solution will help organizations meet security and privacy standards and achieve regulatory compliance with internal corporate policies and external regulations, thereby minimizing the risks of doing business online. Financial terms of the agreement are not being disclosed. The transaction is expected to close within 30 days of this announcement.
Sanctum's patented security solutions help protect and manage an organization's portfolio of web applications throughout the software lifecycle and enable web application security compliance across the enterprise. WebXM monitors and manages critical online issues including privacy, accessibility, quality, user experience, and instances of brand misuse, and correlates these issues with web analytics data. With this acquisition, Watchfire offers enterprise customers and government organizations an automated security, privacy and compliance solution that sets the standard for managing critical and growing threats such as online fraud, phishing and identity theft.
Watchfire has acquired Sanctum's award-winning products and intellectual property, and also plans to add approximately 75 Sanctum employees, including several internationally recognized security experts. Sanctum's products include the award-winning AppScan(TM) solution and AppShield(TM), the only ICSA-certified Web application firewall for advanced enterprise-class application security. AppScan automates Web application security testing for rapid development of secure Web applications, enables security assurance testing before deployment and monitors integrity in the live environment by continuously auditing Web applications.
"The rapid emergence of new forms of online fraud and identity theft, in addition to regulatory compliance requirements, calls for organizations to take a hard look at how to minimize risk. The impact of these issues can be catastrophic - loss of trust and damage to brand and reputation, lost productivity, lost business, and potential legal consequences," said Peter McKay, president and CEO, Watchfire. "Watchfire offers solutions to address the Internet's most pernicious issues. The addition of Web application security solutions to Watchfire's portfolio, coupled with the expertise Sanctum's employees bring to Watchfire, gives our enterprise and government customers access to the industry's most advanced and comprehensive security, privacy and compliance solutions."
"Over the last seven years, Sanctum has been the leader in offering the broadest, most innovative application security solutions. Our proven products have repeatedly earned industry accolades, and we are proud of the customer loyalty and trust we have built in the market," said Peggy Weigle, CEO, Sanctum. "This market will now benefit from an unprecedented identity theft prevention and compliance management solution that I believe represents the most complete risk management offering available today."
"Meeting the complex requirements of online compliance is a significant challenge," said Pete Lindstrom, Research Director, Spire Security. "Watchfire's acquisition of Sanctum integrates complementary privacy, compliance and web application security technologies into one enterprise platform. Organizations will benefit from a solution that manages the Web infrastructure for regulatory compliance, risk reduction and quality enhancement."
Combined, Watchfire and Sanctum serve more than half of the Fortune 50. Watchfire's current plans include expanding the functionality of Sanctum's Web application security testing and firewall products. This is Watchfire's fourth acquisition in two years and is the most recent example of the company's aggressive strategy to broaden its flagship enterprise platform, WebXM.
This acquisition brings more than 500 customers to Watchfire and extends the company's ability to provide the industry's most comprehensive and powerful online business management solutions to enable regulatory compliance, mitigate online risk and improve the business value of enterprise websites.
For more information on the Sanctum acquisition, please visit: http://www.watchfire.com/resources/sanctum-faqs.aspx
Watchfire provides online business management software and services to enable regulatory compliance, mitigate online risk and improve the business value of websites. More than 200 enterprise organizations and Government agencies, including AXA Financial, SunTrust Banks Inc., Novartis, Veteran's Affairs, United States Postal Service and Dell rely on Watchfire to monitor, measure and manage all aspects of the online business including quality, privacy, web application security, accessibility, user experience and visitor behavior. Watchfire's alliance and technology partners include IBM Global Services, PricewaterhouseCoopers, TRUSTe, Microsoft, Interwoven, Documentum and Mercury Interactive. Watchfire is headquartered in Waltham, MA. For more information, please visit www.watchfire.com
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