Friday, June 4, 2010

ViaSat Buys Encryption Firm Stonewood Group

Carlsbad-based ViaSat, a developer of wireless communications and satellite products, said Friday that it has acquired London-based Stonewood Group Limited, a developer of encryption products. The deal was worth $20M in cash and stock. ViaSat said that Stonewood's products are used to encrypt data on hard drives, so that lost or stolen laptops do not result in the loss of classified information or intellectual property. ViaSat said the buy would enable it to offer secure storage at the edge of its wireless, secure networks.