SAN FRANCISCO -- Mocana, a software company that is enabling a secure networked society, today announced its acquisition of key assets of Mimas Technologies, Inc. and Mimas Technologies Pvt Ltd. Through the acquisition, Mocana is forming its first product development center in India located in Pune, and expanding its wireless expertise in securing all aspects of data communications for any connected device.
The acquisition further enables Mocana to differentiate its product portfolio to serve emerging market segments. As the worlds devices are continually upgraded with wireless connectivity, Mocana products can more quickly address the emerging security needs that result when devices and services are connected to the Internet. Mimas development expertise is an ideal addition to Mocana and will be well suited for a seamless merge with the company as it continues to expand and accelerate its high performance wireless product offerings.
According to Harbor Research, Inc., overall shipments of devices for Wireline, Wireless WAN, Wireless LAN and Wireless PAN combined are expected to rise from 22 million devices in 2005 to 436 million in 2011, an annualized growth rate of 64%. The data presented by Harbor acknowledges the high levels of growth in the device market and validates Mocanas value proposition as a company committed to securing connected devices.
The acquisition of Mimas will expand our reach globally and further enable the growth of our product portfolio for wireless and networking applications, said Adrian Turner, CEO and president of Mocana. This acquisition complements Mocanas development team and also meets our objectives to accelerate Mocanas growth by tapping into emerging global markets.