Security solution provider Tumbleweed now has shareholder approval to merge with Axway, maker of collaborative business solutions. After completing the merger the combined company will do business as Axway and have a collective customer base of over 11,000 companies worldwide.
Axway currently provides secure file transfer, payment, and PKI technologies along with a large range of other solutions. The merger with Tumbleweed will bring Axway Tumbleweed's SecureMessenger - an award-winning email encryption solution - as well as the successful MailGate email security protection. The company will also gain Tumbleweed's secure file transport and identity management solutions.
Tumbleweed was recently awarded two U.S. patents, one related to enforcement of email traffic policies and the other related to managing email traffic by comparing message attributes to a spam database. All totaled the company's technologies generated $15.8 million in revenue during the second quarter of 2008 - up 12 percent from the same quarter in 2007.
The two companies expect the merger to be complete sometime in the third quarter of 2008.
