Earlier today, GlobalSCAPE, Inc. (NYSE Amex: GSB) announced that it has entered into an investment term sheet with CoreTrace. Subject to definitive agreements, GlobalSCAPE will invest in CoreTrace in return for an equity position and a seat on the CoreTrace board of directors.
In the announcement, Jim Morris, president and CEO of GlobalSCAPE, explained part of his company’s interest in CoreTrace:
“Because malware has proliferated exponentially, traditional solutions are increasingly stressed beyond their ability to keep pace with the virus of the day. The CoreTrace whitelisting technology has tremendous potential, similar to the early days of the anti-virus market.”
I am very excited about our GlobalSCAPE partnership. CoreTrace is a leader in a growing market and the GlobalSCAPE investment will allow us to continue executing in accordance with our strategic plan, while also providing both companies with a variety of interesting future opportunities.
I am looking forward to sharing those opportunities over the next few months, so stay tuned.