HP Buys Encryption Specialist Voltage Security

Amid widespread worry over cyberterrorism and corporate data breaches like the Anthem Healthcare attack, HP has acquired Voltage Security, a data-centric security software solutions provider. Voltage solutions will complement HP's Atalla data and payments security software to add data classification, payments security, encryption, tokenization, and enterprise key management.

Smaller security companies are cashing in on increased spending for security software and services, and HP is making the acquisition in an attempt to get some of the market back.

Cupertino, California-based Voltage has numerous patents based on research in mathematics and cryptographic systems and provides enterprise solutions for large companies in payments, banking, retail, insurance, and healthcare. Starting in 2002, the company focused on protecting corporate data across cloud storage and mobile access. It raised around $27 million in 2005 and 2007.

Strengthening its end-to-end enterprise security offering, HP looks to extend a single framework from the data center to cloud and Hadoop environments. HP cited its 2014 Cost of Cybercrime study that found that the average annual cost of cyber crime for a U.S. organization was $12.7 million. It also showed that organizations were experiencing an average of 138 successful attacks per week.

The acquisition was for an undisclosed amount and comes as HP continues to reorganize, including staff reductions and splitting the company in two.