|[March 15, 2017]
Zix Acquires Greenview Data to Expand Its Email Security Solutions
Corporation (Zix), (Nasdaq: ZIXI), a leader in email encryption,
has acquired Greenview
Data, an email security company, for approximately $6.5 million in
cash. With the acquisition, Zix adds advanced threat protection,
antivirus, anti-spam and archiving capabilities to its industry-leading
email encryption to deliver a comprehensive email security solution for
customers that demand bundled services.
"Our customers, especially our small- and medium-sized businesses, are
increasingly requesting that we provide additional email protection
services," said Dave
Wagner, Chief Executive Officer at Zix. "The acquisition of
Greenview Data enables us to meet our customers' needs, preserve our
leadership position in email encryption, and expand our opportunities
for growth with add-on business in a larger total addressable market."
In the "Forecast
Analysis: Information Security, Worldwide, 3Q16 Update" report,
Gartner (News - Alert) Research estimates the total addressable market of secure email
gateways to be $1.4 billion in 2017, worldwide. Gartner Research defines
secure email gateway as providing "basic message transfer agent
functions; inbound filtering of spam, phishing, malicious and marketing
emails; and outbound data loss prevention (DLP) and email encryption."
Located in Ann Arbor, Mich., Greenview Data launched into the email
security industry with SpamStopsHere
solution in 2002. As its customers faced evolving threats, Greenview
Data expanded its solutions to protect against viruses, malware,
ransomware and other malicious emails.
"Email spam, viruses, malware and the latest threats all share a common
theme - they're all unwanted. With that foundational understanding, our
solutions and the team behind them adapt to protect our customers from
any type of malicious emails," said Ted Green, co-founder of Greenview
Data. "Delivering such an advanced product has allowed us to keep our
customers' trust and grow our business to more than 4,000 customers.
We're excited to join Zix, combine our solutions and people, and
increase our customer base to help even more people protect their email
In addition to its solutions, Zix's acquisition of Greenview Data was a
good fit based on its employees' expertise in email security and its
reputation for outstanding customer success.
"Our customers know us as the premier choice. It's reflected in our
solutions, our people and customer engagement from sales to support,"
said Wagner. "We are excited that Greenview Data aligns well with that
expectation and look forward to welcoming Greenview Data employees and
customers to Zix."
Greenview Data customers can continue to manage and purchase their
solutions through Greenview Data's customer portal. Support continues to
be delivered by the full and existing Greenview Data staff, and future
communication will inform customers about any changes.
Zix customers can continue to manage and purchase email encryption as a
standalone solution. Please visit www.zixcorp.com
for future all-in-one email security solutions.
Zix currently expects the transaction to have no material impact on
revenue and new first year orders for the first quarter of 2017. For the
full year 2017, Zix expects subscription revenue from the acquisition to
contribute approximately $1.5 million and expects operating cash flow to
be neutral. Zix management will provide additional details on the
acquisition and financial outlook on the company's first quarter
About Zix Corporation
Zix Corporation (Zix) is a leader in email encryption. Zix also offers
superior solutions in email data loss prevention and email bring your
own device (BYOD) security. Zix is trusted by the nation's most
influential institutions in healthcare, finance and government for
easy-to-use secure email solutions that meet data protection and
compliance needs. Zix is publicly traded on the Nasdaq Global Market
under the symbol ZIXI. For more information, visit zixcorp.com.
Statements in this release that are not purely historical facts or that
necessarily depend upon future events, including statements about
forecasts of sales, revenue or earnings, potential benefits of strategic
relationships, or other statements about anticipations, beliefs,
expectations, hopes, intentions or strategies for the future, may be
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. Readers are cautioned not
to place undue reliance on forward-looking statements. All
forward-looking statements are based upon information available to Zix
on the date this release was issued. Zix undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Any
forward-looking statements involve risks and uncertainties that could
cause actual events or results to differ materially from the events or
results described in the forward-looking statements, including risks or
uncertainties related to market acceptance of new Zix solutions and how
privacy and data security laws may affect demand for Zix email data
protection solutions. Zix may not succeed in addressing these and other
risks. Further information regarding factors that could affect Zix
financial and other results can be found in the risk factors section of
Zix's most recent filing on Form 10-K with the Securities and Exchange
View source version on businesswire.com: http://www.businesswire.com/news/home/20170315006239/en/
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