The acquisition represents Pulse Secure’s first major investment in the broader mobility market following its inception as an independent company.
California-based company, Pulse Secure, has acquired Israel based MobileSpaces, a provider of mobile security for the app-centric enterprise. According to “Globes”, the price estimated for $100 million.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
According to IVC data, says Globes, MobileSpaces, which was founded as CellSec in 2011, has raised $12 million in two financing rounds.
Pulse Secure represents first major investment in the broader mobility market following its inception as a new, independent company, announced in a separate press release this morning.
MobileSpaces is developing a solution to help organizations deal with employees who bring a laptop computer, smartphone or tablet from home, a category referred to as BYOD (Bring Your Own Device). The solution enables organizations to guard sensitive information kept on the employees mobile devices. The growing use of smartphones and tablets is liable to cause significant leaks of information from the mobile devices, with the organization having no chance to close the breach.
The MobileSpaces BYOD solution helps complete Pulse Secure’s solutions to provide seamless, secure access from anywhere and any device. The addition of MobileSpaces’ technology to its portfolio reflects Pulse Secure’s intention to immediately invest in customer experience and innovation, and its strategy to create a unified user experience for remote and on-campus mobility that spans PCs and mobile devices with central policy and administration.
“Pairing MobileSpaces’ BYOD workspace with our VPN and network-access control products ushers in the next-generation workforce by giving them easy, yet secure, mobile access to the services and applications they need, ” said Andy Monshaw, chief executive officer of Pulse Secure. “We’re thrilled to be bringing MobileSpaces’ innovative products and people to the new Pulse Secure.”
Downloaded to a smartphone or tablet as an app, MobileSpaces creates a virtual partition that separates enterprise and employee data while also providing a secure BYOD workspace for native or enterprise apps on any Android or iOS device. The workspace protects corporate information against data leakage and loss by encrypting all data at rest, controlling data sharing between enterprise apps and connecting directly to the enterprise virtual private network. MobileSpaces also allows IT administrators to select any mobile app for workspace use and assign it via policy without app modification.
Enterprise employees are shifting from desktop to mobile, and more IT departments are turning to the cloud. At the same time, research firm ITIC reported in a study that more than half of businesses surveyed are not adequately prepared to deal with the security risks of BYOD.
“In two years, 71 percent of U.S. companies will allow more than half of their employees to access corporate data on a mobile device, ” says Chris Hazelton, research director for enterprise mobility at 451 Research. “These companies will need mobility management tools to secure corporate data in motion and on devices. With widespread support for BYOD in the enterprise, there is growing traction for Android. Increasing levels of access to corporate data means there is a real need to secure corporate apps on Android devices.”
“Enterprise mobility is key to business today but faces new challenges of connectivity, scale and application support, ” said David Goldschlag, chief executive officer and co-founder of MobileSpaces. “With the acquisition of MobileSpaces, Pulse Secure is helping enterprises rethink mobility to deliver unmatched power to their business in a way that is simple and secure for IT while also being natural for users.”
MobileSpaces joins the Pulse Secure team with 20 employees, based in Silver Spring, Maryland and Tel Aviv, Israel.