The Redwood City, California-based anti-spam and anti-virus mail firewall vendor is acquiring Incubator Ltd, which was until 2002 Tumbleweed’s UK operation. Based in Hurst, UK, Incubator is Tumbleweed’s premier European distributor for its secure messaging products as well as Websense Inc’s Enterprise employee filtering software, which are also resold by Tumbleweed.
Tumbleweed is issuing 224,000 shares of common stock for Incubator, valuing the firm at $1.6m, while additional shares have been made available should the team meet unspecified targets over the next two years. The CEO of Incubator and former vice-president of Tumbleweed Europe, Martyn Richards, is now Tumbleweed’s EMEA managing director.
We’re pleased to have Martyn’s dedicated team of people back as full time employees at Tumbleweed, focused on expanding our business in Europe, said Denis Brotzel, senior vice president of worldwide sales. Martyn’s team has delivered consistent results during the past year, and we’re pleased to reintegrate this vital organization into Tumbleweed.
This article is based on material originally published by ComputerWire
