ANN ARBOR ? We lost another Michigan technology company to California, this time Indigo Security, which was purchased by Silicon Valley-based Tablus. Indigo?s development team will move by the end of the first quarter to San Mateo, leaving only its sales and marketing staff in Ann Arbor.
Tablus provides information security solutions and is backed by Menlo Ventures, one of Silicon Valley’s oldest and most prominent venture capital firms. Indigo was founded in November 2000 by two University of Michigan students, Todd Graham and Jonathan Hudson, with the financial backing of Sloan Ventures, a Birmingham early-stage investment firm.
Indigo provides software that helps companies protect confidential information at the desktop by monitoring and controlling its use, including copying and pasting, burning to CD, moving to USB flash drives, or even printing. Tablus? product, Content Alarm, is an information security solution that detects when confidential information is transmitted across network boundaries. Together the two products provide a comprehensive solution for customers.
Indigo Manager Chris Cameron, a partner at Sloan Ventures, said the deal won?t make Graham and Hudson millionaires, but he said Indigo is on the right track after the two companies combine. He declined to provide any financial guidance.
Indigo spent nearly two years in research and development before releasing its product to the market. During the last two years Indigo has built a solid customer base that includes life sciences and other research companies.
?This is a very satisfying step to see for a company that I have been so involved with.? Cameron said. ?You feel a bit parental to a company like this when you are so active during its incubation. Tablus is an outstanding organization with great leadership and strong financial backing. Combined, Indigo and Tablus will be the leading solution provider in this sector of the IT Security market.?
