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Quotium Technologies Acquires Israeli Company Seeker Security Ltd(June 22, 2012)
COURBEVOIE, FRANCE -- (Marketwire) -- 06/22/12 -- Quotium Technologies (EURONEXT PARIS: QTE) announces that it will increase its holding to 100% in Seeker Security. The two companies have been working together for three years to develop Seeker, an automated solution for guaranteeing application security. This partnership has the EUREKA label -- given to the most innovative companies -- awarded by the OSEO in France and the OCS in Israel. The Seeker solution was first brought to market in late 2011.
Michel Tiberini, President of Quotium Technologies, explains: "This acquisition will allow us to benefit from the extremely strong expertise of Seeker Security engineers as well as from increased technological resources. It is in line with our strategy for growth on the market for critical business applications and data management solutions."
According to Ofer Maor, President of Seeker Security and the new CTO for Quotium Technologies: "With Quotium, we are going to be able to pursue our efforts in Research & Development while stepping up sales of the Seeker solution in Europe and the United States."
Seeker is an innovative solution developed to identify security flaws from the very beginning of the application development cycle. Seeker pinpoints vulnerabilities, verifies their degree of criticality and records this information in a video file. Entirely automated, the process requires no technical expertise for its operation. This solution has been recognized as a major innovation in the security field, most notably by the Gartner Group and at the 2011 RSA conference in the United States.
This operation is to be submitted to the Shareholders for vote at the General Assembly on 17 July 2012.
The detailed terms of the transaction will be disclosed in a next press release.
QUOTIUM TECHNOLOGIES PRESS RELEASE: http://hugin.info/143547/R/1621315/518104.pdf
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