Press Release
FileTek Makes Strategic Acquisition in Data Classification Market- Addition of Desktop Information Management Products Extends Offerings into Front Office Compliance, eDiscovery, and Content Management SpaceRockville, MD (June 5, 2007) - FileTek, Inc., a premier provider of data access and information management software, today announced that it has purchased substantially all of the assets, including the intellectual property, of Trusted Edge, Inc., an innovative company that develops and delivers policy-driven desktop classification, capture, and disposal solutions for unstructured data such as e-mail, desktop documents, and files. The terms and financial details of the all-cash transaction have not been publicly disclosed. The addition of the Trusted Edge Desktop Data Management suite significantly complements FileTek's existing high-volume data storage management solutions. It also enables FileTek to extend its solutions portfolio to the front office desktop applications market.
The Trusted Edge Desktop Data Management Suite classifies desktop-generated information and data assets according to their business value, enabling organizations to consistently enforce retention, disposal, and hold policies across all desktops within the enterprise. System administrators can establish business policies to automatically categorize and tag assets at creation time to make the content self-describing, and then route a copy of the tagged information to a variety of content and/or document management solutions and repositories such as Microsoft® SharePoint, IBM Content Manager, OpenText Livelink, and EMC ApplicationXtender. Additionally, Trusted Edge can automatically categorize and tag e-mail information to an e-mail archival solution such as Symantec Enterprise Vault.
William P. Loomis, CEO of FileTek, commented, "FileTek's significant investment in Trusted Edge technology is an important juncture in the Company's corporate history. For over 20 years, FileTek has delivered proven, large-scale information management solutions to Fortune 1000 companies worldwide. Now, as Trusted Edge's software becomes an integral part of FileTek's product offerings, the Company is extremely well positioned to provide quality software, service, and support to the desktop-based software applications market. I look forward to implementing FileTek's success in this new business venture."
"I also look forward to FileTek's success," remarked Mike Beck, former CEO and President of Trusted Edge. "As founder of Trusted Edge, I have a personal interest in its future. Trust is a fundamental issue when you sell intellectual property. Just as customers entrust Trusted Edge software to policy-manage their critical desktop data, I entrust FileTek to move the company I created to the next level. I am confident that FileTek has the expertise and savvy to enhance product features and grow sales to a worldwide customer base."
FileTek plans to sell Trusted Edge software through its direct sales force as well as through strategic partnerships and OEM relationships with industry-leading software vendors.
About FileTek
FileTek, Inc. is a premier provider of robust data storage and access management solutions, enabling enterprises, worldwide and across multiple industry segments, to effectively manage and rapidly access ever-growing volumes of historical data. Products include StorHouse for enterprise-class data and information lifecycle management and Trusted Edge Desktop Document Management Suite for digital asset management in the front office, desktop applications market space. FileTek is headquartered at 9400 Key West Avenue, Rockville, MD 20850. Telephone: 301-251-0600. Fax: 301-251-1990. FileTek's international headquarters, FileTek Ltd, is located at One Northumberland Ave., London WC2N 5BW. Telephone: +44 (0) 207 872 5583. Fax: +44 (0) 207 753 2829. The company also has offices across North America. Internet: www.filetek.com.
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