Endace Growth on the Cards with TechNZ Investment

Thursday, 29 July 2010, 2:12 pm
Press Release: Endace

29 July 2010

Endace Growth on the Cards with TechNZ Investment

World leaders in cyber security and network traffic capture and analysis, Endace has received $4.4 million in funding from the Foundation for Research Science and Technology to help it deliver a series of major product developments over the next two years.

The funding has been provided by the Foundation’s business investment programme, TechNZ. It will cover 50 per cent of business costs associated with the innovations and will help ensure the company remains at the cutting edge of technology.

“We are delighted to have received the grant which we will use to develop our Cyber Security and Low Latency Monitoring solutions,” says Mike Riley, Chief Executive Officer, Endace.

”At a time when we are focussed on growing our business through heavy investment in sales and marketing, this funding will allow us to maintain our traditionally strong investment in new product development, something we wouldn’t otherwise have been able to do. We’re pleased that TechNZ have decided to invest in our growth and we look forward to generating more wealth for New Zealand as a result.”

Foundation Chief Executive Murray Bain says that Endace’s success demonstrates how strategic investment can see a company grow from a start-up to a world leader.

“We are delighted that our investments have helped underpin the company’s success getting their innovative products to the global market faster,” Mr Bain says.

“Endace spends more than 20 per cent of its revenue on research and development. Out investment will accelerate this, allowing the creation of more top R&D jobs in New Zealand.”

One of New Zealand’s most highly awarded and successful high-tech companies, Endace came from humble roots, formed from a latency research project in the School of Computing and Mathematical Sciences at the University of Waikato.

In 2001 the technology was successfully commercialised as the DAG™ card, and Endace was formed to service Telecommunication Companies, Govern¬ment Agencies and Fortune 500 organisations seeking to monitor, measure and secure their networks. Endace became the first New Zealand company listed on the AIM (Alternative Investment Market) in the UK when it floated in mid-June 2005.

Over the last ten years Endace has seen significant growth and evolved from being a card company into a fully-fledged systems business focusing on the Cyber Security Monitoring and Financial Services markets.

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About Endace

For organisations that rely on their data networks to do business, Endace provides high performance traf¬fic analysis, latency measurement, network security and application acceleration solutions that capture, inspect and report on every single data packet.

Our product portfolio includes high-speed packet capture technology, open development environments, multi-function network monitoring appliances and a comprehensive range of powerful yet intuitive management, measurement, alerting and analysis applications. These products provide the broadest, most capable range of packet capture technology, for any interface, speed or packet type. We enable our customers to be confi¬dent in their service performance, traf¬fic monitoring, information security, and regulatory compliance.

Based in Auckland, New Zealand, Endace also has of¬fices in the UK and USA. Quoted on London's AIM, the stock code is LSE: EDA.

ENDS

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