PatchLink pounces on little SecureWave

PatchLink pounces on little SecureWave
PatchLink pounces on little SecureWave

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By John E. Dunn
18 June 2007

PatchLink has announced plans to acquire application security company 
SecureWave for an undisclosed sum.

The deal is being structured as a merger, with SecureWave shareholders 
getting shares in the new company in return for their current holding. 
However, this is more than a passive acquisition - one of SecureWave=E2=80=99s 
founding shareholders, Mangrove Capital Partners, is to be given a seat 
on the merged board. Both companies are privately-held which makes price 
disclosure unlikely.

This means two small but notable endpoint-related companies have been 
bought out in a week. On June 13, it was announced that SonicWall was 
acquiring SSL vendor Aventail for $25 million.

In this latest acquisition, buying Securewave represents a new departure 
for PatchLink, which does not currently have application security 
products to sell with its patching and vulnerability management 

Securewave=E2=80=99s SecureEXE, in particular, is a good example of a 
=E2=80=98whitelisting=E2=80=99 application, an area some see as the future of software 
security. The software identifies authorised applications and allows 
only these to run, thereby excluding malware without the need for 
signature-based detection.

"This emphasis on fixing problems before they occur will create a 
significant market for integrated security policy and remediation 
management. A proactive stance will also reduce security risk across the 
enterprise. PatchLink=E2=80=99s acquisition of SecureWave provides solutions to 
reduce risk,=E2=80=9D the official released quoted IDC analyst Charles Kolodgy 
as saying.

Neither company qualifies as startup fodder, despite their private 
ownership. PatchLink has been around since 1991, and even SecureWave =E2=80=93 
the most notable tech company to come out of Luxembourg =E2=80=93 was founded as 
long ago as 1996. The newly combined company will have 230 employees, 
large for a private outfit.

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