SPARK Ventures announces the sale of Identum to Trend Micro
London, United Kingdom – March 26, 2008 - SPARK Ventures, one of Europe’s leading early-stage technology venture capital investors, announced today that it realised its investment in UK-based Identum, a developer of email encryption technology, following its sale to Trend Micro Incorporated (TSE: 4704), a global leader in Internet content security. The terms of the deal are not being disclosed.
SPARK Ventures (through Quester) was a founder investor in Identum as a spin-out from Bristol University and has supported the development of the company’s email encryption technology, which included the world’s first fourth generation cryptography system.
Under its new name, Trend Micro Encryption Ltd., the company will integrate its encryption technology into existing Trend Micro solutions.
“Our team of cryptography experts is excited by this opportunity to join Trend Micro, a company that is recognized for its innovative security solutions, and we believe that working with them will enable us to take Identum to the next stage in its development and build a market leading position.” said Andy Dancer, chief technical officer of Identum. Existing Identum products will continue to be available under Trend Micro’s brand.
Kiko Duffy, an Investment Director at SPARK Ventures, added: “From an early-stage university spin-out, Identum has developed market leading technology with global potential. The acquisition by Trend Micro is a key milestone for the company and is a clear endorsement not only of its progress to date, but also of its future prospects. “
Ends
Press contacts:
SPARK Ventures plc
Kiko Duffy, Investment Director
kiko@sparkventures.com
Tel: +44 (0)207 851 7707 / +44 (0)7775 995 328
Annabel O’Connor / Wendy Svirakova
Capital MS&L (for SPARK)
annabel.oconnor@capitalmsl.com / wendy.svirakova@capitalmsl.com
Tel: +44 (0)20 7307 5330
Notes to editors:
About Trend Micro
Trend Micro Incorporated, a global leader in Internet content security, focuses on securing the exchange of digital information for businesses and consumers. A pioneer and industry vanguard, Trend Micro is advancing integrated threat management technology to protect operational continuity, personal information, and property from malware, spam, data leaks and the newest Web threats. Its flexible solutions, available in multiple form factors, are supported 24/7 by threat intelligence experts around the globe. A transnational company, with headquarters in Tokyo, Trend Micro’s trusted security solutions are sold through its business partners worldwide. Please visit www.trendmicro.com.
About Identum
Founded in 2002, Identum was spun out from the UK’s University of Bristol cryptography department. The company has spent more than five years developing Private Post, the first software product in the world to crack the challenge of bringing privacy to email for the mass market. The company was privately owned by its founders, employees and investors. For more information, please visit www.privatepost.com.
About SPARK Ventures
SPARK Ventures is the leading quoted early-stage venture capital company in Europe. It manages over £240 million on behalf of major institutional investors, leading UK universities, and three quoted venture capital trusts.
SPARK invests in entrepreneurs to create dynamic businesses in the technology, media, telecoms and healthcare & life sciences sectors. As well as capital, it brings a wealth of experience of developing high growth companies from early stage through to IPO or trade sale, adding value to its investments through active support and strategic direction.
Some of its exits include Mergermarket, a co-investment with Beringea which was successfully sold to the Financial Times for $192million in 2006, Lastminute.com, Footfall, Nomad, Pricerunner, Elata, Glycart, OHM and Avidex.
www.SPARKventures.com