Incitia Ventures invest NOK 14 mill and becomes the largest owner in the Norwegian data encryption company High Density Devices AS (HDD). Olav Stokke and two of his co-entrepreneurs from the broadband supplier NextGenTel, have become part of the HDD Management Team with Mr Stokke as the CEO.
HDD has over the last ten years developed and patented a unique technology for highly creative, efficient, and secure encryption of data on storage media for laptops, desktops, and mobile storage units. The solutions are easily operated, independent of Operating System, do not require maintenance, and require no configuration prior to use. It has been patented in a number of countries, and the technology and product line is trademarked as [hiddn]™ (formerly “SecureD”). The company has also developed its proprietary ”Key Management System” enabling larger organizations, or user communities, to administer and manage its own encryption keys.
[hiddn]™ has been developed in multiple form factors; as an encryption module for implementation in other manufacturers’ end products, as its own product line, as a component (ASIC) for implementation in other manufacturers’ products, and as a licensing solution for implementation in other manufacturers’ components and/or designs.
High Density Devices AS is owned by Incitia Ventures II AS, Tønnevold Venture & Invest AS, the Management Team, and a number of other financial and private investors. The Company has 10 employees. HDD has its head office in Kristiansand. Erik Sandersen takes over as the new chairman of the company, and the board is also strengthened by IT-industry veteran Stein Surlien from Oracle as an independent director.
For a more detailed description of the company, its products and technology, investors, or any other information, see the HDD web page : www.hdd.no