JVP Announces Sale of Navajo Systems
The company growing out of the JVP Media Labs incubator will serve as the foundation for the Salesforce.com new R&D center in Israel
Jerusalem – September 2, 2011 - JVP announced the acquisition of the Israeli cloud encryption company, Navajo Systems by Salesforce.com.
Navajo Systems was founded in 2009 by Dan Gross, Dr. David Movshovitz, Doron Abram, Ofer Shochet and Eitan Bauch. The company, which was incubated in the JVP Media Labs Incubator, under the Israel Office of the Chief Scientist Incubator Program has developed a unique technology, the VPS cloud encryption gateway, which transparently encrypts all SaaS application data deemed sensitive by the regulation before it is transmitted to a cloud provider. When the data is returned to the client, the process is reversed and unlocked by a proprietary key.
JVP Media Labs is the in-house incubator of Jerusalem Venture Partners (JVP), one of Israel's leading venture capital funds, with over $900 million under management through eight funds. This is the second acquisition of a global corporation of a JVP incubated company within the last 3 years.
The acquisition of Navajo will allow Salesforce.com to address its multinational customer’s data residency requirements.
CEO of Navajo Systems Dan Gross said, "We are very proud that Salesforce.com chose Navajo Systems as its first acquisition in Israel enabling us to serve as the foundation for the company's new R&D center in Israel. We view Salesforce.com as the world leader in cloud computing and one of the most innovated technology companies in the world and as such are proud to be joining the group.”
“Navajo started its operations in JVP Media Labs incubator and within a very short period of time proved itself to be a leading company in the space of cloud computing security. The acquisition of the company, such a short time since inception serves as further testament to the incubation model in creating meaningful companies in a short period of time," added Haim Kopans, Chairman of the Board of Navajo Systems and CTO and Partner at the JVP Media Labs.
Navajo Systems has introduced patent-pending "Cloud Encryption Gateway" technology which promises to revolutionize SaaS application data residency.