Data Express in Highland Texas – SOLD To Landstar, Inc.
Closing Date: 9/16/19
Dealmaker: Rebecca Hansbrough, IAG Deal Maker
Reason for selling: Sellers wanted to find a synergistic industry buyer that could incorporate their secured data file transfer software solution into its existing suite of technology products and services and brought an effective strategy for sales growth.
Buyer:
Reason for buying: This asset acquisition is a foundational expansion of Data443’s current product suite as it provides critical core capabilities of protection for an organization’s data.
Summary: “ This is a major milestone that proactive companies must take in ensuring compliance with regulations like GDPR, CCPA, HIPAA and others,” said Jason Remillard, CEO of LandStar, Inc. and founder of Data443. “As we evaluated DataExpress, we were closely considering how this asset acquisition could advance our market position, expand our customer base and ensure aggressive accretive growth. The DataExpress asset acquisition is yet another milestone in delivering Data443’s vision of a complete data privacy, security and governance ecosystem that is unique and unrivalled in the marketplace
The sensitive data and file transfer market continues to rapidly expand and is anticipated to grow to $2.3B by 2026 with a CAGR of 7.9% according to Transparency Market Research. Factors contributing to the explosive market growth include global data security regulations and escalating sophistication of malicious attacks on vulnerable endpoints, devices and networks. This growth is supported by the entrance of major players in the file and data transfer space including Dropbox, Microsoft OneDrive, Google Drive and Box. Grabbing additional market share from incumbents like Barracuda, SolarWinds and Ipswitch will be accelerated by the addition of data privacy and governance capabilities delivered by Data443’s combined product suite.
“The sensitive data and file transfer market has grown exponentially over the last five years and that has prompted customers to demand more comprehensive, end-to-end data security solutions. We knew it would be a game-changer for our customers when DataExpress products were paired with the existing market-leading suite of Data443’s data security solutions like ArcMail, Araloc and Classidocs,” added Billy Whittington, co-founder and CEO of DataExpress. “Adding privacy discovery, archiving, remediation, retention management, secure DRM and classification capabilities to our large existing connector framework greatly expands the offerings for our clients – and enables a significant differentiator for Data443.”
The Company plans to immediately offer the product to its existing customer base which numbers in the hundreds. Additionally, its global 45+ partners and distributors will be trained and certified on the new platform. Product integration with Classidocs, ARALOC and Arcmail will commence immediately, as will bundling with our hybrid cloud appliances and existing SaaS offerings.
For IAG:
“While there is much to be done as we move forward, we wanted to take this opportunity of thanking you for your continuous support, conversation, motivation and for schooling us on the process. We truly believe this will have a positive outcome for ALL parties concerned and our entire team is enthusiastic as we step into a new reality.” – Billy Whittington
Purchased as a strategic acquisition.
We can sell your business too!
There are many aspects to consider when selling your business, make sure you have every part covered by signing up with IAG today!
