Monday, September 25, 2006
GlobalSCAPE Acquires Availl, Inc., a leading provider of Wide-Area File Systems (WAFS)
SAN ANTONIO, TEXAS -- GlobalSCAPE, Inc.,
a leading provider of secure file transport products, today announced
that it has acquired 100% of the stock of privately held Availl, Inc.
(www.availl.com), a leading provider
of Wide-Area File System (WAFS), collaboration and continuous data
protection (CDP) products. This transaction expands GlobalSCAPE's
technology base into data replication, acceleration of file transfer,
sharing/collaboration and continuous data backup and recovery. The
combined GlobalSCAPE/Availl will be uniquely positioned to provide
comprehensive, secure transfer, sharing, and replication of files
that need to be transmitted inside the firewall to distributed offices
or outside the firewall to business and trading partners.
GlobalSCAPE is purchasing Availl for a total initial consideration
of $9,650,000, which is comprised of $7,650,000 in cash and $2,000,000
in GlobalSCAPE stock. The former Availl stockholders are also entitled
to up to an additional $100,000 in cash depending upon the achievement
of certain revenue targets for Availl for the third and fourth
quarters of 2006.
"We are excited about the synergies created between these two
companies," stated Randy Poole, President and CEO of GlobalSCAPE.
"Besides state-of-the-art technology, Availl has very talented people;
we welcome them to our team and look forward to working with them.
Availl is profitable and growing rapidly. We expect this deal to be
accretive for GlobalSCAPE immediately."
SVB Silicon Valley Bank has provided a $5,000,000 senior
acquisition debt facility, together with a $750,000 revolving line of
credit, to assist GlobalSCAPE in the acquisition of Availl, Inc.
"GlobalSCAPE has spent a decade helping companies develop efficient
and secure file management systems at the enterprise level," said
Doug Mangum, Managing Director with SVB Silicon Valley Bank.
"We're excited to be working with an acknowledged leader in this
space and are glad to be supporting the company in this strategic
GlobalSCAPE provides secure file management software that enables
companies to safely send data over the Internet. GlobalSCAPE's products
guarantee the privacy of critical information such as the transfer
of financial data, medical records, customer files, intellectual
property, and other sensitive documents. GlobalSCAPE's file management
software ensures compliance with government regulations on protecting
information and allows enterprises to reduce IT costs, increase
efficiency, track and audit transactions, and automate processes.
GlobalSCAPE's products are used by leading technology, banking,
healthcare, and public sector organizations and can be customized
to fit various customer needs, creating a variety of solutions.
In addition, GlobalSCAPE provides content management and website
development tools. Founded in 1996, GlobalSCAPE is the developer
of CuteFTP, the most popular file transfer protocol application on
the market. GlobalSCAPE is headquartered in San Antonio, TX.
For more information, please visit
or call GlobalSCAPE toll-free at 800-290-5054 (US) or 210-308-8267
Based in Andover, Mass., Availl is the market leader in real time
wide area file systems (WAFS) and Continuous Data Protection software.
With the most advanced acceleration and true mirrored/coherent
multi-directional Distributed File System, Availl's enterprise solutions
are used by 14 of the Fortune 100 companies, and thousands of sites
of all sizes around the globe. Availl's customers have both
efficient and transparent WAFS, as well as consolidated and continuous
data and database protection in real time, and on any scale.
The Availl solution allows truly distributed organizations to function
transparently across any distance. For more information, please
visit Availl at http://www.availl.com.
About Silicon Valley Bank
SVB Silicon Valley Bank is a member of global financial services
firm SVB Financial Group, with SVB Alliant, SVB Analytics,
SVB Capital and SVB Global. SVB Silicon Valley Bank provides banking
services to emerging growth and mature companies in the technology,
life science, private equity and premium wine industries. Through
its focus on specialized markets and extensive knowledge of the
people and business issues driving them, SVB Silicon Valley Bank
provides a level of service and partnership that measurably impacts
its clients' success. Founded in 1983 and headquartered in Santa
Clara, Calif., the company serves clients around the world through
SVB Financial Group's 27 U.S. offices and three international
operations. More information on the company can be found at
http://www.svb.com. SVB Silicon
Valley Bank refers to the commercial banking operation of SVB
Financial Group, which includes Silicon Valley Bank, the California
bank subsidiary of SVB Financial Group.