Tuesday, December 11, 2007

NeoScale Acquired by nCipher

nCipher plc said today that it has acquired the majority of the intellectual property and assets of NeoScale Systems, a provider of storage encryption products for the storage market. Milpitas-based NeoScale developed appliances used by storage users to encrypt and protect their data. The deal was worth $1.95M in cash. According to nCipher it has recruited key members of the Neoscale team and will continue operations from Milpitas. NeoScale had raised over $43M in venture capital funding from Advanced Technology Ventures, Bay Partners, Lightspeed Venture Partners, and Sevin Rosen Funds.