informa
Products & Releases

Former Monster Chief Executive Named CEO Of PKWARE

Newton is credited with growing the company from $400,000 to $45 million in revenue
Milwaukee, WI (November 10, 2009) - PKWARE, Inc., a leading provider of data-centric security and compression solutions, today announced that V. Miller Newton has been named President and Chief Executive Officer.

Newton was previously Chief Executive Officer for Monster, the renowned global employment solution. He is credited with growing the company from $400,000 to $45 million in revenue and from 50 to 230 employees. Prior to being named CEO of Monster, Newton was Executive Vice President of Sales and Marketing for TMP Worldwide, a global marketing communications company and parent company of Monster (now Monster Worldwide " NYSE MWW). Newton was instrumental in taking TMP Worldwide public in 1996.

"PKWARE is an amazing company with proven data management and security solutions, a marquee customer base and a great team," said Miller Newton, President and Chief Executive Officer for PKWARE. "I am excited to accelerate PKWARE's efforts to help our customers address their critical concerns regarding compliance regulations, audit requirements, protection of sensitive information and reducing overall operation costs."

In addition to his tenure with Monster, Newton was previously Chief Executive Officer of Netkey, a leading provider of applications and management software for self-service kiosks and digital signage. Netkey was acquired by NCR (NYSE: NCR). Prior to that, he was Chairman and Chief Executive Officer for Boston-based Lavastorm Technologies (now Martin Dawes Analytics), an international data analytic software company focused on improving business performance.

PKWARE was recently acquired by an investment group led by Novacap, a leading Canadian private equity firm. Additional investors include Maranon Capital, Grace Matthews, Inc., Garrett Investments, LLC and PKWARE executives. Grace Matthews Inc., a Milwaukee-based investment bank, also coordinated the formation of the investment group and negotiated the transaction with PKWARE shareholders. The new funding will be used to expand the worldwide market share of PKWARE's data security and compression products.

"Miller's experience in growing technology companies combined with his leadership style, management expertise and marketing savvy make him the ideal person to lead PKWARE," said Pierre McMaster, General Partner of Novacap. "He is well positioned to drive the new strategic initiatives needed to build upon the company's success and accelerate PKWARE's growth in the rapidly expanding enterprise security software market."

According to IDC, the worldwide security market has grown from $42 billion in 2007 to $55 billion in 2009 and is predicted to exceed $82 billion by 2012. "Increased data security regulations, recent data breaches and a changing economy have caused growing concern for protecting data while still optimizing organizational resources," said Newton. "This has driven tremendous demand for PKWARE solutions and the new investment in PKWARE will allow us to continue to strengthen our product portfolio to meet the growing needs of our customers."

About PKWARE, Inc.

As the inventor and continuing innovator of the ZIP standard, PKWARE, Inc. (www.pkware.com) is a global technology leader known around the world as the expert in data compression and file management. With the launch of SecureZIP in 2005, PKWARE successfully entered the data security marketplace, combining ZIP compression and strong encryption to deliver a data-centric security solution. Today, SecureZIP and PKZIP are used by over 200 government agencies and 30,000 corporate entities, including 90% of the Fortune 100. Organizations in financial services, banking, government, healthcare, and retail use PKWARE solutions daily to protect sensitive data, meet compliance requirements, avoid liability risk, and reduce their overall costs and operational overhead. PKWARE, a privately held company, was founded in 1986 and is based in Milwaukee, Wisconsin; additional offices are located in New York, Ohio and the United Kingdom.

Recommended Reading: