SAN FRANCISCO — FileOpen Systems Inc., the document rights management (DRM) developer, today announced a significant surge in the licensing of their DRM technology to Virtual Data Room (VDR) providers, positioning the company as the predominant enabling technology for VDRs to date. The company's broad customer base in publishing, financial services, manufacturing, healthcare, education and government now includes 8 of the top 10 VDR platform providers.
Enabling Secure Document Exchange
VDRs provide a secure virtual space which enables the parties to a transaction or agreement to access confidential documents remotely from diverse locations. Because VDRs bring together parties from opposite sides of a transaction, including their attorneys and advisors, they pose a unique and stringent set of security and accessibility requirements. According to industry research firm IBISWorld, the VDR industry is growing rapidly, with revenue expected to reach $628 million in 2012 (a 17.1% increase from 2011 and an annualized growth rate of 17.4% since 2007). It is against this backdrop that FileOpen Systems has become the de facto standard for document security integration with VDRs.
"FileOpen’s deep experience with secure document distribution is driving our strength in the VDR market," said Sanford Bingham, President & CEO, FileOpen Systems, Inc. “Simply put, we help our VDR partners succeed without having to become experts in encryption, policy enforcement and authentication. Our combined efforts protect millions of VDR-hosted documents per year from leakage, while providing speed and convenience to end-users.”
Unmatched Security Features
The FileOpen Client, which acts as a security handler within Adobe Reader X™, offers VDR vendors functionality beyond that available from any other solution on the market, including the ability to:
“We needed the ability to secure and control functionality of a large number of files shared in our virtual data rooms. After a detailed review of several DRM vendors in the market it was clear that FileOpen Systems provided the most extensive set of security and access control tools,” said Karen Perkins, President of V-Rooms™. “Over the last two years we have been very pleased with the FileOpen technology. We believe that our combined core competencies will foster continued growth and deliver significant value to our customers."
Easy Integration
All VDR vendors face the challenge of preventing unauthorized access to their customers’ documents once they leave the secure space of the VDR website. With FileOpen RightsManager™ or RightsServer™, VDR hosts can distribute secured documents in native PDF as well as the primary Microsoft® Office® formats, or via the zero-install FileOpen Viewer. By licensing FileOpen’s authentication and permissioning technology, or developing their own tightly integrated system from the FileOpen Toolkit, VDRs can grant access to authorized end-users on a range of desktop and mobile devices, operating systems and applications. VDRs can pick and choose among the wide range of options in the FileOpen feature set, such as unique watermarking, embargo and expiration, and controlled printing to create a customized end-user experience.
FileOpen will be demonstrating its document rights management solutions at the RSA Conference in San Francisco from February 27 – March 1, 2012.
About FileOpen Systems
Founded in 1997, FileOpen Systems Inc. pioneered the first document rights management (DRM) solution for securing PDF documents. Today, FileOpen continues to innovate with a complete line of DRM solutions that protect intellectual property and reduce the risk of confidential data loss. FileOpen serves publishers, manufacturers, governments, educators and financial organizations worldwide to protect their sensitive data without compromising the end-user experience. FileOpen Systems is a privately held company headquartered in Santa Cruz, CA. For more information on the company please visit www.fileopen.com.
About V-Rooms
V-Rooms provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms Sofware-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at http://www.V-Rooms.com.