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GlobalSCAPE, Inc. (GSB) Strengthens Offerings through Strategic Acquisition of TappIn

|Includes: GlobalSCAPE, Inc (GSB)

lobalSCAPE Inc., a leading developer of secure information exchange solutions for businesses and consumers, today announced it has completed its acquisition of privately held mobile file sharing innovator TappIn Inc., formerly known as HomePipe Networks Inc.

TappIn allows users to access and securely share all files stored on a computer from any Web browser and Internet-enabled mobile device. GlobalSCAPE CEO Jim Morris said that by integrating GlobalSCAPE’s expertise with TappIn’s convenience, the companies create an innovative synergy that he expects will generate solid consumer demand.

“Combining GlobalSCAPE’s leadership in secure information exchange with TappIn’s strength in secure digital content mobility allows us to deliver a powerful solution for consumers and businesses,” Morris stated in the press release. “Through this acquisition, GlobalSCAPE continues to remove barriers between users and their content, stored in multiple locations, while maintaining privacy and security regardless of the device being used. There has been explosive growth in tablet and smartphone sales in recent years, and we expect this trend to continue, driving strong market demand for the TappIn solution.”

The TappIn service allows users to store their data where they want vs. moving it to a central location, as cloud computing requires. Morris said this allows users to focus on what they want to do rather than the technology driving it.

“We are excited to join with a strong, global market leader like GlobalSCAPE,” TappIn President Chris Hopen stated. “We share a common vision that people need a trusted solution for securely accessing and sharing digital content, regardless of where their content resides. GlobalSCAPE is a great fit for TappIn, and I’m confident this relationship puts the company in an excellent position for continued growth.”

Per the agreement, GlobalSCAPE purchased TappIn for $9 million in cash. TappIn’s shareholders may receive an additional $8 million over the next three years, contingent on achieving specific revenue and solution development targets.

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