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Cloud Data Protection Expert PerspecSys Accelerates 2012 Growth with New Customer Wins, Partnerships and International Expansion.

TORONTO -- PerspecSys Inc., the leader in cloud data protection and residency solutions for the enterprise, today announced the achievement of several 2012 milestones including strong year-over-year revenue growth and the addition of a record number of clients across the Healthcare, Public Sector, Insurance and Financial Services sectors. Propelled by robust market demand for its software and services, PerspecSys has also partnered with some of the largest global IT services companies in the world, increased development of its unique cloud data protection platform, announced support for FIPS 140-2 compliant encryption modules, expanded operations to the U.S. and Europe, and added new software development and management talent throughout the organization. These achievements underscore the company's success in creating the only true cloud data protection solution for residency, privacy and compliance on the market today.

The company's flagship product, the PerspecSys Cloud Data Protection Gateway, gives enterprises and public-sector organizations total control over their sensitive data - enabling them to use popular cloud applications such as Oracle CRM On Demand and Salesforce.com, while still meeting legal and industry compliance requirements. Using patented technology, the PerspecSys Gateway intercepts sensitive data while it is still on-premise and replaces it with a random tokenized or encrypted value, rendering it meaningless should anyone hack the data while it is in transit, processed or stored in the cloud. In addition, the PerspecSys solution offers the differentiated ability to preserve SaaS functionality - even when the data is tokenized or strongly encrypted - using National Institute of Standards and Technology (NIST) listed FIPS 140-2 compliant modules. With PerspecSys, end users have access to features and functions such as ability to search and sort data, send e-mails, and generate reports - even though the sensitive data has been obfuscated.

"As the demand for cloud data protection continues to take off, it is becoming clearer to businesses that there is a real choice out there regarding how to protect your most sensitive information," said David Canellos, CEO, PerspecSys. "At PerspecSys, we believe we offer the right choice - one focused on data residency, tokenization and encryption options plus the preservation of SaaS application functionality. And our increasing revenue numbers, significant partnerships and international customer base prove it."

Here are some of the key highlights and achievements for PerspecSys year to-date:

Increased Customer Base

With multiple wins across sectors such as Healthcare, Financial Services, Insurance, Public Sector, and other verticals, PerspecSys achieved record growth in Q1 and Q2 2012.

Developed New Partnerships

The company doubled its partner network to include some of the world's largest and most influential SaaS and IT services companies such as Oracle, Salesforce.com, Fujitsu, CloudWare, BPI, The Banking Alliance and IP4Sure.

Added New Product Features and Deployment Options

Under the leadership of Mike Morrissey, the PerspecSys engineering and product development team added new capabilities and developed adapters to support popular SaaS cloud applications, including Oracle CRM On Demand. PerspecSys also filed multiple technology patents for innovations it has added to its cloud data protection gateway solution. And via its IaaS partnership network, PerspecSys began to offer its Cloud Data Protection Gateway solution as a service.

Achieved FIPS 140-2 Compliance

PerspecSys announced support for the Federal Information Processing Standard 140-2 (FIPS 140-2) validated encryption modules, which are required for encrypting sensitive data within Federal organizations and used extensively in many industries, particularly financial services, manufacturing, and healthcare, or wherever there are strict regulations governing data security. PerspecSys is the first and only company to offer this level of data protection while simultaneously preserving critical SaaS application capabilities, such as the ability to Search and Sort on FIPS 140-2 encrypted data fields.

Supported Industry Organizations

PerspecSys joined the Cloud Security Alliance and EuroCloud and is supporting both organizations with its domain expertise and technical resources.

Expanded Management & Engineering Team

PerspecSys hired industry veterans and innovators in Sales, Marketing, Engineering and R&D positions. New additions included: John Emerson, Vice President, Sales; Gerry Grealish, Vice President, Marketing & Products; Eric Hay, Senior Director, Systems Engineering; Mike Morrissey, Vice President of Engineering and Research & Development; David Stott, Senior Director, Product Management; LJ Alefantis, Area Vice President, Sales; and Steve Webb, Vice President of EMEA.

Expanded Operations Globally

The company expanded operations by opening its first U.S. office in the Washington D.C. area in McLean, Virginia, and its first European office in London - both leading tech and security innovation centers in their respective countries.

Canellos added, "This year promises to be a record-breaker for PerspecSys. And while we're excited to celebrate our current achievements, we're even more excited about the road ahead and continuing to deliver on our promise of helping companies enjoy the benefits of the cloud without the risks."

About PerspecSys

PerspecSys Inc. is a provider of cloud data protection solutions that enable mission-critical cloud applications to be adopted throughout the enterprise. PerspecSys removes the technical, legal and financial risks of placing sensitive company data in the cloud. The company accomplishes this for many large, heavily regulated companies across the world by never allowing sensitive data to leave a customer's network, while maintaining the functionality of cloud applications. Based in Toronto, PerspecSys Inc. is a privately held company backed by leading investors including Intel Capital and GrowthWorks. For more information on PerspecSys, please visit www.perspecsys.com or follow on Twitter @perspecsys.
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Publication:Business Wire
Geographic Code:1CONT
Date:Jul 16, 2012
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