Tuesday, July 15, 2008

NitroSecurity buys info security company RippleTech

By Mass High Tech Staff

Network security company NitroSecurity Inc. reports that it has acquired Pennsylvania-based software maker RippleTech Inc.

The acquisition comes two months after Portsmouth, N.H.-based NitroSecurity withdrew its registration for an initial public offering.

Financial terms of the deal were not disclosed.

RippleTech, founded in 1998, develops unified information security solutions. Based in Conshohocken, Penn., the company employs 18 workers, who will all join NitroSecurity.

NitroSecurity, founded as D.G.H. Ltd. in 1994, now employs 70 workers, including the RippleTech employees. In May, company officials withdrew plans for an IPO, nine months after registering with the U.S. Securities and Exchange Commission. NitroSecurity has raised about $20 million in venture capital to date.