Cyber-Ark’s Vaulting Technology Takes Off Across Europe
Amsterdam, Holland.-Nov. 30, 2004-Cyber-Ark(r) Software Ltd., the leader in Vaulting Technology(tm) for instant, secure enterprise connections, today announced that as a result of the high demand for Cyber-Ark’s Vaulting Technology based solutions, it has opened its first European office based in Holland. Vaulting Technology, which was developed by a team of former Israeli Military engineers and security experts, has so captured the imagination of the corporate security world that over 100 of the largest corporations around the world have quickly deployed the new technology.
Cyber-Ark has a hit a cord with many organizations who need to guarantee that sensitive information only reaches intended recipients and never gets into the wrong hands either internally or externally. It is also gaining in popularity as companies are under increased pressure to comply with rafts of new legislation and industry standards. Cyber-Ark’s Vaulting solutions provide a “safe-haven” where information is protected when shared or transmitted over the Internet between discrete enterprises or as a means of managing critical information within a single network. Inter-Business Vault(tm) delivers an instant, secure Wide Area Network (WAN) for connecting enterprises to their partners, customers, and sub-contractors over the Internet whereby information such as source code or design documents can be exchanged securely. Network Vault(r) is a highly secure repository which provides a safe haven, regardless of overall network security, to protect critical documents and administrative passwords.
Cyber-Ark already has an impressive list of established clients from across industry sectors including Aviation, IT, Electronics, Energy, Banking & Finance, Telecommunications, Healthcare and Consumer Manufacturing. The clients using the patented Vaulting Technology(tm) include such household names as Motorola, Enel Power, Zurich Financial Services, Cendant, Wells Fargo, Lehman Brothers, Virgin Money, ING Direct, Key Bank, Orange, and Comerica Bank. Many of these companies have recognized that transfer of sensitive or confidential information is just not secure via email without cumbersome and expensive encryption. They have also been seeking to upgrade their auditing systems in order to comply with the BS7799 Standard. Cyber-Ark’s Vaulting Technology solves these problems with an easy to use, easy to install solution, which complements rather than replaces existing security investments.
Eddy Deegan – IT Security Manager at Virgin Money said “The Internet is a hostile environment, and after looking around for a method of exchanging data securely with third parties we came across Global Secure Systems who distribute Cyber-Ark – the product met our requirements very well and it’s been money well spent. We now also use it to store local data securely. This facility also provides us with a BS7799-compliant audit trail, as we can see who accessed any given file and for what purpose. It’s popular with our users too, as it is simple to use and gives them control over their information.”
Calum Macleod, Business Development Director for Europe and Africa at Cyber-Ark, said “Cyber-Ark’s value proposition is clear. In a market that is swamped with perimeter security solutions, this is the only product that quickly and easily protects sensitive information, without impacting the way users work or require complex IT integration. For the reseller, Cyber-Ark offers the opportunity to add a completely new dimension to their portfolio, to stand out from the crowd of ‘me-too’ technology suppliers. It is an ideal product to expand their customer base because it allows these customers to securely exchange information while reducing risk.”
About Cyber-Ark
Cyber-Ark Software Inc., is the leader in Vaulting solutions for securely connecting enterprises. The Company’s Inter-Business Vault enables the creation of secure instant wide area networks (WANs) for connecting enterprises with partners, customers and sub-contractors over the Internet – enabling them to exchange information as if they have deployed a shared WAN, but without actually doing so. Cyber-Ark’s leading Inter-Business Vault applications include solutions for Treasury Management files, PLM and CAD/CAM files, and Source Code. In addition to its business-to-business solutions, Cyber-Ark’s Network Vault provides solutions for securely managing critical information, such as administrative passwords and critical documents, within the enterprise. Today Cyber-Ark enjoys strong customer relationships with more than 100 Global 1000 companies around the world.
Founded by a group of leading military security experts and computer engineers, Cyber-Ark Software is privately held and backed by some of the world’s most successful venture capitalists, including Jerusalem Venture Partners, Seed Capital Partners (a SOFTBANK Affiliate), JP Morgan/Chase Partners and Vertex