PGP Corporation Reaches 30,000 Corporate Customers, $30 Million in Orders for Its Encryption Solutions in First 2 YearsPALO ALTO, Calif. --(Business Wire)-- Sept. 9, 2004 -- Includes 90% of Fortune 100, 75% of Forbes International 100 Companies
PGP Corporation, a global leader in enterprise encryption solutions, today announced that more than 30,000 companies have purchased its email, disk, mobile and FTP/batch encryption solutions since becoming an independent company in 2002. In addition, the company has booked in excess of $30 million in GAAP orders in the last 2 years. The company attributes its success to positive customer response to the new PGP Universal architecture, which has increased adoption in large enterprises. PGP Corporation's industry-leading, standards-based encryption is increasingly used to secure worldwide communications between large numbers of partners, customers, vendors, and suppliers.
"Many have asked how we are doing," said Phillip Dunkelberger, president and CEO of PGP Corporation. "Not only have we been selected by more than 30,000 corporate customers since becoming independent in 2002, we now support all encryption standards (OpenPGP and S/MIME), are advised by industry experts (ISSA and ISC2), partner with other industry leaders (Symantec, RIM, GeoTrust), and have shipped an award-winning, enterprise encryption architecture (PGP Universal)."
"This is exactly where we want to be in the company's growth cycle," commented Alex Doll, Chief Financial Officer, PGP Corporation. "Our excellent financial performance has allowed us to accelerate investments in product development, business development, and customer support. Enterprise customers are very comfortable with our financial position and our ability to be a long-term infrastructure partner."
"We just closed our best quarter in company history," continued Mr. Dunkelberger. "Our growth was fueled by large companies deploying the PGP product suite and requiring partners to securely communicate using PGP solutions. We now have over 200 partners selling PGP encryption products worldwide. This success is a reflection of a growing understanding that confidential and proprietary data needs to be encrypted to secure company assets, to protect customer information, and to comply with worldwide privacy and security regulations."
He added, "We continue to innovate and invest in the entire PGP product line. We will meet customer requirements for a unified policy and proxy-based PGP encryption suite by integrating our automatic and transparent PGP Universal architecture into our popular desktop products. Customers increasingly trust PGP solutions not only because we publish source code for peer review, but also because they believe we can successfully build this complex technology."
PGP products are purchased by industry-leaders around the world, especially in the financial services, health care, technology, and manufacturing market segments. -0- *T -- Top Fortune(R) Companies use PGP solutions -- 9 of the Top 10 Commercial Banks -- 8 of the Top 10 Pharmaceutical Companies -- 8 of the Top 10 Health Care Companies -- 7 of the Top 10 Energy Companies -- 11 of the Top 15 Aerospace and Defense Companies -- 15 of the Top 20 Telecommunications Companies -- 14 of the Top 20 Motor Vehicle and Parts Companies -- Top Forbes(R) International Companies use PGP solutions -- 7 of the Top 8 Pharmaceutical Companies -- 8 of the Top 10 Banks -- 8 of the Top 10 Insurance Companies -- 13 of the Top 17 Automobile Companies *T
About PGP Corporation
Recognized worldwide as a leader in enterprise encryption technology, PGP Corporation develops, markets, and supports products used by over 30,000 enterprises, businesses, and governments worldwide, including 90% of the Fortune 100 and 75% of the Forbes International 100. PGP products are also used by thousands of individuals, and cryptography experts to secure proprietary and confidential information.
During the past ten years, PGP(R) technology has earned a global reputation for standards-based, trusted security products. It is the only security vendor to publish source code for peer review. The unique PGP encryption product suite includes PGP Universal -- an automatic, self-managing, network-based solution for enterprises -- as well as desktop, mobile, and FTP/batch transfer solutions. Venture funding is provided by DCM-Doll Capital Management and Venrock Associates. Contact PGP Corporation at www.pgp.com or 650-319-9000.
PGP is a registered trademark and the PGP logo is a trademark of PGP Corporation. Product and brand names used in the document may be trademarks or registered trademarks of their respective owners. Any such trademarks or registered trademarks are the sole property of their respective owners.