Basel-II News

Safend Takes First Prize in IVA/Red Herring Competition

(June 14, 2007)-- Safend, an international provider of corporate endpoint information leakage prevention (ILP) solutions, announced today that it was selected by Red Herring magazine as the most promising Software and Internet start-up in Israel for 2007. According to the Israel Venture Capital Association (IVA) co-chairman, Eli Barket, the focus of this year's competition was to identify companies with significant growth potential.

The contest, co-hosted by Red Herring magazine and the IVA, recognizes the most promising Israeli start-up companies and bestows awards based on each organization's vision, technological achievements and market leadership. Independent judges evaluated more than 60 entrants and announced the winners at the IVA's annual meeting in Tel Aviv. Safend was one of 9 companies in the final round of the competition and pushed past two other finalists in the Software and Internet category to win first prize.

Alex Vieux, publisher of Red Herring magazine, said: "Israeli companies prove once again that they are certainly capable of competing in the global market. They stand out not only in innovation and in developing intellectual capital but also in their business models and implementation abilities. It's a good sign for the next generation of entrepreneurs."

Safend is backed by Elron electronics. Safend's software solutions, Safend Auditor and Safend Protector, secure the data hosted on enterprise PCs and laptops by monitoring and controlling access to detachable storage devices, network adaptors and wireless networks. Safend's products have evolved to not only provide device control but also offer encryption features, file type control, hardware keylogger protection, and offline tracking of corporate data residing on USB storage devices. Safend currently services more than 500 enterprise clients worldwide.

Safend solutions also facilitate the enforcement of regulatory compliance requirements such as SOX, HIPAA, PCI and Basel II.

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