/24-7PressRelease/ - February 28, 2007 - STERLING, VA (February 22, 2007) - CRYPTEK, Inc., a privately held manufacture and provider of security solutions announced today the company received $7.0 Million in funding. The proceeds primarily will be used to support product research and development initiatives and corporate development efforts. The funds provided will allow Cryptek to execute its 2007 corporate goals and objectives. This will also allow Cryptek to enhance and expand its DiamondTEK security products, support acquisitions focused initially within the TEMPEST market, and to continue to operate as a debt free company.
"Key elements to our Strategic Plan for Cryptek in 2007 are to enhance, expand and diversify our Corporate capabilities", states Bill Anderson, President & CEO. "The company plans to remain strong in our R&D efforts as well as bring new products to market to satisfy Mission Critical Requirements. This funding will allow us to achieve these goals as well as continue to position Cryptek as a high quality, agile and responsive partner with our suppliers as well as our loyal customers. It is also important to note that funding for this round was provided by our current investors as well as our Board of Director Members. Our Team, at Cryptek, is very proud that our Board of Directors continues to demonstrate its ongoing commitment to Cryptek with their support and confidence in the direction of our company."
Cryptek is focused on delivery of Mission Critical Solutions to our National Defense customer base, expansion into new markets as well as diversification of our company's extensive capabilities.
ABOUT CRYPTEK: Cryptek, Inc., a privately held manufacture and solutions integrator, is recognized as an industry leader of Dynamic and Trusted Identity and Access Control solutions as well as unique TEMPEST products. With over 20 years of experience in developing and delivering security solutions, Cryptek has worked with numerous DoD & Civilian agencies. Partnered with the industries top software and hardware manufactures, Cryptek offers customers advanced security solutions to meet their ever growing needs. Current Cryptek solutions have been awarded an EAL 4 rating from Common Criteria (CC) and numerous cryptographic module evaluation certificates as part of the National Institute of Standards and Technology (NIST) Federal Information Processing Standards Publication (FIPS PUB140).
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