GlobalSCAPE, Inc. (NYSE Amex: GSB), a leading developer of
secure information exchange solutions for businesses and consumers,
today announced that the company has expanded its capabilities by
acquiring privately-held, Seattle-based mobile file sharing
innovator TappIn, Inc., formerly known as HomePipe Networks,
Inc.
Founded in 2009, TappIn allows users to instantly access and
securely share all files stored on an office or home computer from
any web browser and all popular mobile devices, including Apple
iPhone® and iPad®, Google® Android™ and Windows® Phone. The service
will be known as TappIn™ by GlobalSCAPE®, offering its worldwide
customer base an easy, secure method to access and share documents,
photos, videos, and music across multiple devices, regardless of
time or location.
“Combining GlobalSCAPE’s leadership in secure information
exchange with TappIn’s strength in secure digital content mobility
allows us to deliver a powerful solution for consumers and
businesses,” said GlobalSCAPE CEO Jim Morris. “Through this
acquisition, GlobalSCAPE continues to remove barriers between users
and their content, stored in multiple locations, while maintaining
privacy and security regardless of the device being used. There has
been explosive growth in tablet and smartphone sales in recent
years, and we expect this trend to continue, driving strong market
demand for the TappIn solution.”
“We are excited to join with a strong, global market leader like
GlobalSCAPE,” said TappIn president Chris Hopen. “We share a common
vision that people need a trusted solution for securely accessing
and sharing digital content, regardless of where their content
resides. GlobalSCAPE is a great fit for TappIn, and I’m confident
this relationship puts the company in an excellent position for
continued growth.”
With TappIn by GlobalSCAPE, users can safely access data
directly from most operating systems, platforms, and mobile
devices. This eliminates the need for uploading, syncing, or paying
for additional cloud storage. The TappIn service securely accesses
the user’s existing storage devices, allows sharing files of any
size, and provides encryption to safeguard content.
“Our goal is to enable users to focus on what they want to do
rather than the technology behind it,” said Morris. “Instead of
requiring that all data be stored in a central location, the TappIn
service allows users to store the data where they want it and
access it when and where they need it.”
"There is a proliferation of ways to move music, pictures,
videos, and documents to cloud services for sharing our content
across devices and with other people,” according to Maureen
Fleming, vice president of IDC's business process management and
middleware research. “It often makes more sense to provide access
without worrying about moving your content to the cloud."
Transaction Details
GlobalSCAPE paid $9 million in cash for TappIn at closing on
December 2, 2011. TappIn’s stockholders can receive an additional
$8 million over the next three years if specific revenue and
solution development targets are achieved.
TappIn will operate as a wholly-owned subsidiary of GlobalSCAPE.
All TappIn employees will remain in Seattle. TappIn executives
Chris Hopen, Parvez Anandam, Doug Wheeler, and Andrew Tull will
remain with GlobalSCAPE in senior leadership roles.
“Chris, Parvez, Doug, and Andrew’s extensive security background
with SSL and VPN technologies aligns with GlobalSCAPE’s vision of
secure information exchange,” said Morris. “Their considerable
experience in developing software-as-a-service and mobile solutions
will accelerate our growth.”
Additional Information
Additional information on the acquisition, including frequently
asked questions, is available on the GlobalSCAPE website at
www.globalscape.com/company/ir.aspx. In addition, GlobalSCAPE will
be filing SEC-required documents by the end of today, December 5,
2011.
About GlobalSCAPE
San Antonio, Texas-based GlobalSCAPE, Inc. (NYSE Amex: GSB) is a
leading provider of software and services that enable its customers
to exchange information quickly, securely, and reliably. Beginning
in 1996 with its CuteFTP® software, GlobalSCAPE has been helping
businesses and consumers—including 15,000 companies in more than
150 countries—facilitate cost-effective secure information
exchange. GlobalSCAPE and its managed file transfer solutions have
been recognized by Gartner Group, Computerworld, Network Products
Guide, and Deloitte’s Technology Fast 500. For more information,
visit www.globalscape.com or follow the blog and Twitter
updates.
About TappIn
TappIn by GlobalSCAPE solves a real problem that millions have
today—how to easily and securely access and share documents,
pictures, videos and music anytime, anywhere. From the office, at
home, or on the road, customers can “Tapp In” to their files,
stored in multiple locations, using any web browser and most
Internet-enabled mobile devices (including Apple iPhone® and iPad®,
Google® Android™ and Windows® Phone). TappIn removes the need for
uploading, syncing, or paying for additional cloud storage. For
more information, visit www.TappIn.com or follow the Facebook,
blog, and Twitter updates.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of 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
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company’s current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company’s Annual Report on Form 10-K for the 2010
calendar year, filed with the Securities and Exchange Commission on
March 29, 2011.
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