BitArts Labs Launches $10 Million Funding Round; New Initiative Aims to Aggressively Grow Market Share.Business Editors/High-Tech Writers LONDON--(BUSINESS WIRE)--June 17, 2003 BitArts Labs, the UK based digital security company today announced an international $10 million fundraising
BitArts Labs is the only company in the world to have developed an uncracked suite of products to protect the delivery of software applications and digital content. Their products have been ported to Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. and Java environments for both fixed and mobile applications. "In the last month our technology has been licensed by Microsoft to prevent the piracy piracy, robbery committed or attempted on the high seas. It is distinguished from privateering in that the pirate holds no commission from and receives the protection of no nation but usually attacks vessels of all nations. of PC-based games and applications and by End2End to protect the delivery of content to mobile phones. Software developers and digital content distributors are increasingly recognising the need to protect their intellectual property," said Danny Chapchal, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , BitArts Labs. "They are also recognising that BitArts has the only multi-platform solution that is proving uncrackable in the marketplace" he added. "Securing these two key customers has given us the vote of confidence that has led us to today's announcement. We are seeking to raise additional funding to aggressively accelerate the development of our international sales and marketing effort and proactively capture emerging demand for our solutions," concluded Chapchal. "We have technology that changes the standards by which other digital security providers will be measured, and it needs muscle to bring it to market fully. This new funding round will give us that muscle." BitArts Labs has licensed its technology to End2End, one of Europe's leading managed service providers whose clients include Vodafone, Orange, Telia and T-Mobile. Downloading and playing games on mobile phones is increasing dramatically - generating revenues of $2 billion in 2003 alone, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. analysts Strategy Analytics. Microsoft is using an encryption The reversible transformation of data from the original (the plaintext) to a difficult-to-interpret format (the ciphertext) as a mechanism for protecting its confidentiality, integrity and sometimes its authenticity. Encryption uses an encryption algorithm and one or more encryption keys. solution based on BitArts technology to protect its PC games in a deal with BitArts US distributor, Smarte Solutions. BitArts Labs is currently funded by a combination of venture capital and private investors, including Second Focus Investments. BitArts Labs encryption technology is based on the principles of mutation mutation, in biology, a sudden, random change in a gene, or unit of hereditary material, that can alter an inheritable characteristic. Most mutations are not beneficial, since any change in the delicate balance of an organism having a high level of adaptation to its engines, injecting random signatures into different locations of the application each time it is executed, making the task of removing the protection an extraordinarily complex and time consuming process - and eliminating the possibility for generic cracks. About BitArts Labs BitArts Labs is a software development company that is focused primarily on the development of protection, security and encryption software Encryption software is software whose main task is encryption and decryption of data, usually in the form of files on hard drives and removable media, email messages, or in the form of packets sent over computer networks. providing solutions for the secure delivery and license management of content on PC and wireless devices. BitArts' suite of products incorporate the functionality for the successful management and distribution of secure and protected software and digital content, copyright and licensing protection as well as the collection of royalties from such content. The company was founded in 1998 by Chief Technology Officer, John Safa and now boasts an impressive management line-up which includes Danny Chapchal as CEO and Dr Cheryl Shavers, former US Undersecretary of Commerce for Science and Technology in the Clinton Administration Noun 1. Clinton administration - the executive under President Clinton executive - persons who administer the law , as Chairperson chairperson Chairman The head of an academic department. See 'Chair.', Cf Chief. . BitArts is headquartered in Nottingham, UK with customers in more than 65 countries including Philips, Siemens, Barclays, Honeywell and Hewlett Packard. BitArts has patents pending on ten core technologies, the basis of the company's unique digital security offering. |
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