Gothenburg, 13 February 2013
Cryptzone, the European IT security and threat mitigation specialist, today announced the completion of the major restructuring program started in 2012. Einar Lindquist, who took over as CEO in June 2012, agreed the necessary changes in conjunction with the board and major shareholders to kick start a turnaround and achieve profitability.
The review began during the summer of 2012 with the goal of aligning the existing IT security product offering with emerging market requirements. Cryptzone has subsequently implemented a change in the product mix and divested of various business units. The Cryptzone IT security portfolio is refocusing toward securing content and access to enterprise assets, with SE46 being retained in the business, although its sales function has been reorganized and incorporated into the sales regionalization plan. Cryptzone has now been re-organized into three distinct sales regions: Nordic, Europe and the Americas. With all these changes implemented the company is achieving greater market focus and visibility.
Cryptzone's primary focus is on software to address the IT security gaps in MicrosoftTM SharePointTM. The SharePoint market continues to experience rapid growth and Cryptzone's encryption solution, Secured eCollaboration (http://www.cryptzone.com/products/sep/secured-ecollaboration/), is providing the enhanced document security, access control and auditing capabilities that organizations need in today's highly regulated and intensely competitive market. Integrated with its secure access technology, offered by the AppGate platform (http://www.cryptzone.com/products/secure-access/), Cryptzone delivers a secure digital workplace for workers at the office or on the move, whatever device they choose to use.
An increasingly mobile workforce and the unstoppable trend toward BYOD (Bring Your Own Device) make protecting sensitive, regulated and valuable information an ever more complex task. Cryptzone is helping organizations implement security technology that strikes the right balance between security and compliance on the one hand and usability on the other.
The restructuring, which is now expected to yield results in 2013, has resulted in cuts as well as new ventures within the different regions. Although the majority of the restructuring work is complete, further adjustments are likely to be required in the future. The revised company profile, product range and organizational changes are expected to lead to a competitive position in the market.
Cryptzone Group AB (publ)
For more information:
Einar Lindquist, CEO Cryptzone Group
einar.lindquist@cryptzone.com (mailto:einar.lindquist@cryptzone.com)
Tel: +46 704-299839
About Cryptzone Group AB (publ):
The Cryptzone Group is a technology innovator of proactive controls to mitigate IT security risk. Our solutions enable organizations to securely connect, collaborate and comply within the digital workplace, thereby improving document security, access control and compliance auditing capabilities.
Headquartered in Sweden, the company has a presence in the USA, UK, Belgium, Germany and Poland, as well as an extensive partner network with more than 150 global partners. For more information about the company and its solutions, visit http://www.cryptzone.com (http://www.cryptzone.com).
Cryptzone's share is listed on First North, Sweden, the Nordic alternative market operated by NASDAQ OMX. Certified Adviser is Thenberg & Kinde Fondkommission AB.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Cryptzone via Thomson Reuters ONE
