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Eqvitec Technology Fund II invests in AppGate Network Security


13 March 2006 -- AppGate Network Security AB, a Sweden based leading provider of network security solutions, announced today that is has secured growth funding from Eqvitec. The SEK25 million investment will be used to drive international expansion. The SEK25 million, which is a first stage of funding, has been provided by Eqvitec Technology Fund II which is advised by Eqvitec Partners, one of the leading private and independent venture capital firms in the Nordic countries, specialising in technology investments.

“AppGate Network Security is one of the most interesting companies in the IT security sector”, says Einar Lindquist, Eqvitec Senior Advisor and formerly member of the Ericsson Executive Team. “AppGate’s unique solution moves the emphasis from security at the firewall to protecting information at the source. One single installation secures the client as well as the network, the application and the transmission in between. Thanks to this complete solution many traditional security problems vanish.”

“Our solution provides customers with total flexibility for accessing information combined with high security that guarantees no unauthorised access is possible”, says Göran Marby, AppGate CEO. “For us Eqvitec fund is an excellent investor, as they give us the opportunity to invest in more sales resources at a faster rate than we could have managed alone. They have also brought on board the experience needed to make AppGate into a world leader in next generation security solutions. With this significant funding in place we can now expand our business faster, particularly in international markets, to meet the already strong demand for our products.”

Open yet secure
New legislation, such as Sarbanes-Oxley (SOX) and the USA Patriot Act, is raising awareness of network security issues and demanding that business managers take steps to ensure the integrity and confidentiality of critical business information. However, organisations face a tough challenge. The network must be protected from virus attacks and unauthorised access. At the same time, there is a demand for systems that allows openness and flexibility, allowing users to access information from different devices like lap-top computers, PDAs, mobile phones etc.

AppGate's solution protects both applications and communication. It supports all protocols for fixed and wireless connections and is easily integrated irrespective of platform or environment. Organisations such as the National Aeronautics & Space Administration (NASA), Stanford University, Vodafone and the Canadian government already use AppGate’s well-proven network security solution. The same solution will meet the secure network needs of the small family business as well as the multinational global enterprise. The smallest customer runs a system with 15 users and the largest installation over 30,000 users. AppGate technology is OEMed by some of the largest IT corporations in the world like Sun Microsystems.

For more information, please contact:
Einar Lindquist, Eqvitec Partners, +46 (0)702 671 122
Göran Marby, CEO AppGate, +46 (0)730 66 77 20


About Eqvitec Partners
Eqvitec Partners Oy is one of the largest technology focused venture capital firms in Northern Europe. The company was founded in 1997 and employs 14 investments professionals in Helsinki and Stockholm. Eqvitec Partners currently advises five funds with a total capital base of over 400 million euros. The funds invest mainly in early and growth phase technology companies. At the moment the funds have investments in 40 technology companies and have carried out 23 exits. www.eqvitec.com


About AppGate Network Security AB
In a world with fewer borders, the demand for network security changes from security at the gate, to security at the source. AppGate is the leader in this space, with a solution that protects applications, protects communication and secures end point devices. The AppGate solution supports all types of<


Publisher Contact Information:

EQVITEC Partners Oy
+46 (0)702 671 122
-

Company profile of EQVITEC Partners Oy
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