10 December 2010
Notification of External Funding
Endace Limited (LSE/AIM: EDA, “Endace” or “the Company”), a world leader in high-speed network security, packet capture and analysis is pleased to announce that it is to receive a Technology Development Grant of up to NZ$6.702m (£3.17m) from the New Zealand Foundation for Research, Science and Technology business investment programme, TechNZ.
The funding, which reimburses 20% of eligible R&D expenditure, will be received over a three year period and will reflect the timing and value of Endace’s R&D expenditure.
Mike Riley, Endace Chief Executive Officer, commented:
“The high frequency trading environment and the government Cyber Security monitoring markets which we serve are both expected to see significant growth. We continue to invest in the development of our market leading product and service portfolio and we are delighted to receive this TechNZ funding.”
Ends
CONTACTS:
Endace Limited
Mike Riley, CEO +64 9 582 0360
Weber Shandwick Financial
Nick Oborne / Stephanie Badjonat +44 20 7067 0700
Panmure Gordon
Edward Farmer +44 20 7459 3600
About Endace
For organizations that rely on their IP networks to do business, Endace provides high performance traffic analysis, latency measurement, network security and application acceleration solutions that capture, inspect and report on every single data packet. Our product portfolio includes high-speed packet capture technology, open development environments, multi-function network monitoring appliances and a comprehensive range of powerful yet intuitive management, measurement, alerting and analysis applications. We enable our customers to be confident in their service performance, traffic monitoring, information security, and regulatory compliance. Based in Auckland, New Zealand, Endace also has offices in the UK and USA. Quoted on AIM, the stock code is LSE: EDA. For further information: http://www.endace.com
Endace, the Endace logo, DAG and EndaceProbe are trademarks or registered trademarks in New Zealand or other countries of Endace Technology Limited. All other trademarks may be the property of their respective holders.