We are excited to announce that Memopal, one of the Pi Campus founding companies, has been acquired by Defenx, a fast growing and profitable security software company listed on the London Stock Exchange (AIM: DFX).
Memopal has been acquired in exchange for cash and stocks for a total amount of 2,3M Euro. Memopal will continue operating within Pi Campus as a subsidiary of Defenx and expanding the current tech team.
Marco Trombetti, co-founder of Pi Campus, the main investor in Memopal, and Memopal former chairman says: “This new exit, even if relatively small, is a new confirmation of the capacity of Pi Campus to aggregate talent able to create globally appreciated products.”
Memopal was founded to provide users and companies with an efficient solution to avoid data loss in both personal and professional use of digital technologies. To date, Memopal has more than 700k active users in 75 countries. The Memopal solutions are sold directly to end-users as well as through selected partners such as Türk Telecom, HGST (a Western Digital company) and ZyXEL.
Memopal develops a cloud storage platform. By combining a compression layer that takes advantage of data similarities among users with commodity hardware, Memopal’s proprietary Global File System (MGFS) allows offering highly competitive cost per gigabyte cloud backup and synchronizations packages.
Today there are lots of similar solutions, but there’s no leading one that combines protection against both hardware damages, human mistakes, malicious hackers and viruses such as ransomware. Thanks to Memopal, Defenx enters the cloud computing market, that is adjacent, complementary and synergic with the security one.