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Print Edition StoriesIT security tools developer Wave Systems Corp. of Lee has raised $11.1 million in an equity round tied to its acquisition of Israeli security company Safend Ltd. last month, according to a filing with the U.S. Securities and Exchange Commission.
Wave announced on Sept. 22 that it was paying about $12.8 million to acquire Tel Aviv-based Safend, which provides endpoint data protection tools such as port and device control and encryption for removable media.
In the filing with the SEC, Wave said it issued shares of its Class A common stock to the shareholders of Safend Ltd. in connection with the acquisition. The filing said the funding round was launched on the same day the Safend acquisition was announced, and that the full $11.1 million in equity has now been sold.
In announcing the Safend acquisition, Wave noted that the deal expands its presence in Europe and the Far East.
Wave (Nasdaq: WAVX) was founded in 1988 as Indata Corp., and changed its name to Wave Systems Corp. in 1993. The company originally developed security software, and eventually added hardware technologies to its portfolio, which is based on the cryptographic standard Platform Module.
In 2009, Wave went through several fund-raising events, culminating with a $3.2 million offering.
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