Monday, January 11, 2010
GlobalSCAPE Completes Definitive Agreements with CoreTrace
Makes Strategic Investment in Innovative Endpoint Security Technology
SAN ANTONIO - GlobalSCAPE, Inc. (NYSE Amex: GSB), a leading
developer of secure information exchange
solutions, today announced that it completed its investment in CoreTrace
Corporation, a privately held software company based in Austin, Texas, in
late December 2009. CoreTrace develops and sells the most tamper-proof and
scalable enterprise application whitelisting solution, BOUNCER by
GlobalSCAPE invested $2.3 million in CoreTrace in return for a preferred
equity position. "We are excited to lead the Series B round of investment in
CoreTrace," said Jim Morris, president and CEO of GlobalSCAPE. "Information
security professionals and leading industry analyst firms such as Gartner
recognize the potential of whitelisting technology as a game changer in
endpoint security solutions."
Endpoint security solutions include antivirus, anti-spyware, firewall,
intrusion prevention, data and file encryption, and other product categories.
Whitelisting is a relatively new entrant into this security market. Unlike
traditional "blacklisting" solutions which rely on detecting and defeating
millions of malicious software applications and unique malware executables,
whitelisting allows users to lock servers, personal computers, and other
devices into a known, trusted state and allows only "good" applications
CoreTrace achieved industry prominence in 2008 following the "Race to Zero" contest held at DEFCON 16 in Las Vegas, Nevada.
"Race to Zero" contestants were asked to pass various exploits through
antivirus engines without detection. CoreTrace's BOUNCER was the
single-most successful solution for stopping the malware attacks.
BOUNCER stopped 100 percent of the entered viruses while traditional
blacklist-based antivirus solutions detected an average of 60 percent.
With the completion of the investment, Craig Robinson, GlobalSCAPE
Chief Operating Officer, has joined the CoreTrace board of directors.
"The CoreTrace executive team has proven their ability to deliver
innovative security solutions and GlobalSCAPE looks forward to
collaborating on future initiatives," said Robinson. "Whitelisting
solutions can operate in concert with anti-malware software to improve
endpoint security today, and potentially replace traditional antivirus
technology at some point in the future."
Toney Jennings, CoreTrace president and CEO, notes that the
company's accomplishments during 2009 and the GlobalSCAPE investment
provide a basis for additional market expansion in 2010. "Last year
we released our BOUNCER 5.0 solution and received multiple independent
validations of our whitelisting capabilities," Jennings said. "We have
added dozens of new enterprise accounts and are consistently recognized
as a leader in this high growth market. The GlobalSCAPE investment will
allow us to reach thousands of additional customers and accelerate our
growth as a leading provider of solutions that deliver the next
generation of endpoint security capability."
GlobalSCAPE's Managed File Transfer (MFT) products, including Enhanced File Transfer
Server™, Secure FTP
Server™ and its industry-leading CuteFTP®
product family, allow organizations to intelligently and securely manage
sensitive information in motion and at rest, across multiple locationsand
with customers and business partners. GlobalSCAPE also provides wide area file services (WAFS)
solutions that help customers collaborate across wide area networks at
local area network speeds. GlobalSCAPE's MFT and WAFS solutions ensure the
highest levels of compliance with government data security and privacy
regulations, along with corporate security policies and mandates.
CoreTrace® is the pioneer of client-based application whitelisting.
The company's award-winning and patented high-security, easy-change BOUNCER solution
is at the forefront of the movement in next-generation endpoint control and
security solutions. Unlike other application whitelisting solutions that
are simply lockdown technologies, BOUNCER's "Trusted
Change" capability enables IT professionals to predefine multiple sources
from which users can safely install applications and have them automatically
added to the whitelist — all with minimal IT involvement. The result: full
prevention of unauthorized applications, improved overall security, and lower
total cost of ownership compared to alternative whitelisting and traditional
blacklisting antivirus solutions. CoreTrace's customers include organizations
in a wide variety of industries, such as energy, oil and gas, financial
services, telecommunications, as well as government agencies.
Additional information may be found on the CoreTrace website and on WhiteSpace, the Application
Whitelisting and Security Weblog.
GlobalSCAPE, Inc. (NYSE Amex: GSB), headquartered in San Antonio, TX, is a
global provider of managed file transfer (MFT) and wide area file services
(WAFS) solutions for securely exchanging critical information over the
Internet, within an enterprise, and with business partners. Since the release
of CuteFTP in 1996, GlobalSCAPE's solutions have continued to evolve to
meet the business and technology needs of an increasingly interconnected
global marketplace. For more information about GlobalSCAPE's products,
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Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. The words "would," "exceed," "should," "anticipates,"
"believe," "steady," "dramatic," and variations of such words and similar
expressions identify forward-looking statements, but their absence does not
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whether as a result of new information, future events or otherwise. Among
the important factors that could cause actual results to differ
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statements are risks that are detailed in the Company's Annual Report on
Form 10-K for the 2008 calendar year, filed with the Securities and Exchange
Commission on March 31, 2009.