GlobeNewswire

HelpSystems Acquires Fox Technologies to Expand Cybersecurity Portfolio

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Acquisition enables organizations to protect information stored on Linux and Unix servers with identity and access management software

MINNEAPOLIS, Dec. 13, 2017 (GLOBE NEWSWIRE) -- HelpSystems announced today that it has acquired Fox Technologies, a solution provider in the cybersecurity industry since 2001, from Parallax Capital Partners. Fox Technologies solutions help organizations tighten security by centralizing Linux and Unix identity and access management. With the acquisition, HelpSystems can help customers manage user privileges-granting employees the right amount of access necessary to perform their jobs-across a greater range of operating systems. This capability is critical as most cyberattacks are carried out by company insiders. It also protects organizations from outsider attacks because fewer users have elevated privileges, limiting the exposure of sensitive data if credentials are compromised. 

"Opportunistic employees often gain unauthorized access to critical information due to weak or poorly enforced security policies," said Chris Heim, CEO, HelpSystems. "Protecting businesses from these attacks is where Fox Technologies solutions excel. In fact, members of the Fortune 500 trust Fox Technologies to enforce granular security controls and achieve compliance with strict regulatory guidelines."

This solution adds to HelpSystems' growing cybersecurity portfolio, which features anti-virus, vulnerability and security scanning, and managed file transfer for Unix and Linux-based platforms. This is particularly relevant as a growing number of businesses use Linux in their cloud networks. Ultimately, HelpSystems believes it will be able to help organizations worldwide keep systems and data safe on hundreds or thousands of servers with fewer resources required.

"Since our first introduction to the Fox Technologies team and solution set, we knew there would be a great fit with HelpSystems," said Dan Mayleben, CFO, HelpSystems. "Our two companies are equally committed to helping businesses with the growing problem of cybersecurity. We look forward to continuing to enhance the Fox Technologies product line to help our customers secure their networks now and for years to come."

"We're pleased to be joining the HelpSystems family and are impressed by how their array of solutions helps solve pressing problems for IT organizations," said Vic Shepherd, CEO, Fox Technologies.

About HelpSystems
HelpSystems aligns IT and business goals to help organizations build a competitive edge. Our software and services monitor and automate processes, encrypt and secure data, and provide easy access to the information people need. More than 10,000 organizations around the world rely on HelpSystems to make IT lives easier and keep business running smoothly. Learn more at www.helpsystems.com.

About Fox Technologies
Fox Technologies, a Parallax Capital Partners portfolio company, is a global security company that helps organizations centralize Linux and Unix access management for cloud, on-premise, or hybrid IT environments. Enterprises worldwide rely on Fox Technologies security solutions to enforce granular security controls, simplify compliance, and increase overall IT department efficiencies. By empowering IT and security teams with control over security-they can proactively prevent internal and external critical system attacks. Fox Technologies has been a leader in the data security industry for more than 15 years. They are trusted by some of the world's top Fortune 500 companies.

About Parallax Capital Partners
Parallax Capital Partners, LLC is a private equity firm focused on acquiring and operating application software and related services companies. Since 1999, Parallax has acquired over 20 companies. For more information, visit www.parallaxcap.com

Mike Devine
Vice President, Marketing
+1 952-563-1696 
mike.devine@helpsystems.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HelpSystems via Globenewswire

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