Elron Announces New Investment of $3.7 Million in Safend.TEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel -- Elron Electronic Industries Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on & TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) : ELRN) today announced that it has completed a new investment of $3.7 million in Safend Ltd. out of an aggregate financing round of $7.4 million in which existing shareholders of Safend also participated. Safend is an Israeli company which develops comprehensive endpoint security solutions that enable organizations to adopt new technologies without sacrificing security. Safend's innovative solutions - the Safend Auditor(TM) and Safend Protector(TM) -provide the enterprise with granular visibility and control over the myriad of devices users connect to their desktops and laptops, including media players, Smart Phones with Bluetooth, Disk on Keys, and other portable and physical storage devices. Doron Birger, President & Chief Executive Officer of Elron commented: "This announcement reflects Elron's continued investment in new leading edge technology companies. Safend is a leading company in a new fast growing market of end point security solutions of information leakage Information leakage happens whenever a system that is designed to be closed to an eavesdropper reveals some information to unauthorized parties nonetheless. For example, when designing an encrypted instant messaging network, a network engineer without the capacity to crack your detection and prevention. With its innovative technology, top management and highly experienced professional team, we are confident that Safend will develop into a successful, high value company". Elron Electronic Industries Ltd. is a high technology holding company based in Israel. Through affiliates, Elron is engaged with a group of high technology operating companies operating company A business that engages in transactions with outsiders. in the fields of medical devices, telecom, semiconductors and advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, . For further information, visit http://www.elron.com Any statements in this press release that may be considered forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are subject to risks and uncertainties that could cause actual results to differ materially. Actual results may differ from such forward-looking statements due to the risk factors discussed in periodic reports filed by the Company with the Securities and Exchange Commission, which the Company urges investors to consider. |
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