O’Melveny Advises Splashtop on Acquisition of Foxpass三月 23, 2023
FOR IMMEDIATE RELEASE
SILICON VALLEY—March 23, 2023—O’Melveny advised Splashtop, a leader in remote IT solutions that simplify and secure the work-anywhere world, on its acquisition of Foxpass, a provider of cloud-based, identity-centric network and server access solutions for IT and DevOpa systems.
The transaction was announced on March 23.
With more than 30 million users, Splashtop is a leader in solutions that simplify the work-anywhere world. The company’s solutions for hybrid work and IT / MSP remote support deliver an experience that is fast, simple and secure.
The O’Melveny team advising Splashtop was led by partner and Silicon Valley Office Head Paul Sieben and associates Amit Itai and Kate Camp.
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Splashtop issued the following announcement:
Splashtop Acquires Foxpass to Broaden Security Portfolio
Trusted Identity & Access Management Platform Will Expand Splashtop's Security Offering, Bringing an Enterprise-Class Solution to SMB and MSP Customers
Cupertino, Calif. – March 23, 2023 – Splashtop, a leader in remote IT solutions that simplify and secure the work-anywhere world, today announced it has acquired Foxpass, a provider of cloud-based, identity-centric network and server access solutions for IT and DevOps systems. The acquisition underscores Splashtop’s commitment to democratizing security for businesses of all sizes – especially small and medium sized businesses (SMBs) and managed service providers (MSPs) who are challenged by the cost and complexity of modern security solutions.
The strategic acquisition marks an important step for Splashtop as it builds out the industry’s most robust remote access and security offering, and enables the company to address the needs of a key segment of the market interested in elevating their security postures with powerful, enterprise-class Wi-Fi and server access management solutions.
“The past few years have dramatically changed the ways that people and organizations work. As businesses continue to embrace the benefits of hybrid work, the risks to cybersecurity have only accelerated, and SMBs have become easy targets,” said Mark Lee, CEO of Splashtop. “We see identity management as a key foundation of security. There are natural synergies between Splashtop and Foxpass that will ensure companies can remain productive while addressing modern security challenges. Foxpass management has built a world-class solution set and a world-class culture, and we are thrilled to be able to bring the team on board.”
Foxpass delivers a secure server and network access management solution that integrates seamlessly with popular identity providers, including Microsoft O365, Google Workspace, and Okta, while its cloud RADIUS Server platform integrates with major Wi-Fi access point and virtual private network (VPN) providers, including Meraki, Ruckus, Apple, Aruba, Fortinet, Ubiquiti and others. Its industry-leading platform supports modern, password-less mechanisms to ensure that employees do not share passwords and can access only the servers and networks they need, and only when needed.
The Foxpass brand and product lines will remain intact and a part of Splashtop’s expanded suite of leading secure IT solutions, enabling customers to leverage the combination of Splashtop’s high performance remote access and support with Foxpass’s scalable identity-centric security platform. Both Foxpass and Splashtop are SOC2 compliant.
“As the leaders in secure remote access, the Splashtop team is building something very impressive,” said Aren Sandersen, founder and CEO of Foxpass. “In today’s environment, you can’t have remote access without security deeply engrained, and Splashtop’s approach – putting security at the heart of their solution – has proven to be the right one. I’m excited for the Foxpass team to join Splashtop on their journey to delivering the industry’s most comprehensive remote access and security solutions.”
As part of the acquisition, Splashtop will retain Foxpass employees and will invest significant resources to accelerate the Foxpass product roadmap. Hundreds of existing Foxpass customers, including Lyft, Segment, HackerOne and One Medical will join Splashtop’s roster of more than 250,000 customers. Terms of the deal were not disclosed. For more information, please visit Splashtop.com.
Splashtop is a leader in solutions that simplify the work-anywhere world. Its solutions for hybrid work and IT / MSP remote support deliver an experience that is fast, simple and secure. Splashtop’s patented, high performance technology is capable of achieving 8K / 60fps and latency-free experience. Splashtop comes with advanced security features and compliance, broad device support, and responsive customer service. More than 30 million users, 250k businesses, including those in 85% of Fortune 500 enterprises, enjoy Splashtop products globally. Splashtop.com
Foxpass is a cloud-based identity-centric server and network access management solution that integrates seamlessly with popular identity providers, including Microsoft O365, Google Workspace, and Okta. The company was founded in 2015 and is headquartered in San Francisco. Foxpass.com