Monday, June 20, 2005

Storage Security market is born

#87 In the background to all the postings to this blog about ID and data theft, we focussed on how all the recent high profile incidents around data theft were leading to storage managers siting security as their top concern and an ensuing debate about data encryption.

Following this, Network Appliance Inc. today said it intends to buy start-up Decru Inc. for $272 million, giving legitimacy to a small but fast-growing market of storage security products. The move comes on the heels of many high-profile data thefts and losses in the financial services industry and other businesses that have spurred IT shops to begin deploying technology to encrypt archived data, analysts said.

The move by NetApp trumps the industry in what will likely be a rush by other vendors to either buy or create their own storage security technology, an area that has been neglected up to now. According to an analyst from Enterprise Strategy Group Inc. "Other storage companies who really have paid little attention to storage security have to take note now."

While storage security is about a $60 million market today, within two years, "you won't be able to have a conversation with a client about storage without talking about security,"

CATEGORIES: 1storage
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