Credant Technologies Acquired By Dell After A Decade Of Independent Ruling
The time is not far when the valuation of data will surpass the value of real currencies. Moreover, the acquisition of more data by a nation will access the net worth of a country. This might seem a little far-fetched right now, but it will arrive soon. With gigantic growth in the sphere of technology, the demand for data for every tiny transaction over the internet, data is crucial! And, anything valuable needs security, right? Irrespective of personal data of an individual or confidential data of a company, it has to be protected. Credant Technologies, a company founded in 2001 served the purpose of providing data security services. Dell announced the acquisition of the company in December 2012. The founders of the company are Bob Heard, Chris Burchett, and Andrew Kahl.
About the Founders
Bob Heard pursued Business and Law and completed his bachelor’s degree in 1974 from Texas Tech University. He stepped into the professional world with IBM where he worked as a Regional Industry Sales Representative. Bob worked there for six long years and joined Information Resources, Inc as Executive Vice President.
Bob had an ample of experiences before co-founding Credant Technologies. Some of them include working as SVP for S2 Systems and Entrust Technologies, working as a General Manager for Sterling Commerce Banking Systems Division, etc. He started working at Dell as an Executive Director but left after seven months and co-founded Credant. Currently, he is the CEO of Credant Technologies and Board Member of eOriginal.
Chris Burchett also went to Texas Tech University and acquired his bachelor’s degree in Computer Science. He went to Southern Methodist University for completing his MS. After completing his BS, we worked at E-Systems as Software System Engineer for four years. While doing his MS, he joined i2 Technologies and worked there for seven years.
He left the company in 2001 after serving as the Director of Product Development. After co-founding Credant, he served as the CTO of the same and then worked for Dell in the security division. Currently, he is the Group Vice President of Blue Yonder.
Andrew has a bachelor’s degree in economics and history from Northern Illinois University and his MBA from Notre Dame University. Before co-founding Credant, he had prior experiences in working for Compaq and i2 Technologies. He left Credant in 2013 and joined NetApp. Andrew is currently serving as the Chief Customer Officer at SailPoint and as a Board Member of MyScript.
History of Credant Technologies
Bob along with Chris and Andrew saw a very big opportunity in the area of computing. When they founded the company, the internet has just started grasping the market. They knew eventually every enterprise will soon need data security as every small activity will depend on the internet.
So, they decided to found Credant Technologies with the prime goal of providing data security services to various companies. The company mainly worked for protecting data and secure it from “leaking”. Credant Technologies started with 110 employees which are pretty impressive for a new company. Moreover, the co-founders of Credant are well-experienced and seemed to have a lot of influence in the business world.
The tools of Credant Technologies had diverse applications, thus serving educational organizations, hospitals, aeronautical industry and well as the financial sector. The company also claimed to produce two million endpoints in these industries. Credant Technologies, since the beginning, has worked for protecting endpoint data and demonstrate compliance. It also worked to reduce costs at the same time.
Investors and Acquisitions
The major investors of Credant Technologies include Crescendo Ventures, Menlo Ventures, Austin Ventures LP, Intel Capital, and Cisco Systems. The company also had a joint partnership with Dell and OEM Record. Credant Technologies, for two successive years (2007 & 2008) became the fastest-growing private security company according to the Inc 500 Survey.
By 2011, over 800 companies, as well as few government sectors, used the product of Credant Technologies. Their tools and software were installed in more than 7 million devices. In 2005, the company was named Ernst & Young Entrepreneur of the Year. Within a span of ten years, it made a significant presence in the world of data security.
Dell announced that it will be acquiring Credant in December 2012. The acquisition was made for the sole purpose of strengthening the security system of Dell.
Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more