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L0pht Merges with Startup @Stake
Top Executives from Forrester Research, Cambridge Technology Partners, and
Compaq Establish @Stake; Specialized Internet Security Services Firm
The L0pht, renowned 'hacker think-tank,' to join @Stake
Receives $10 million in Initial Backing from Battery Ventures
Cambridge, Mass., January 6, 2000 - A group of top Internet executives
announced today the establishment of @Stake Inc., a specialized professional
services firm that will provide a full range of security solutions for the
e-commerce operations of global clients. @Stake represents the industry's
only independent security services provider.
@Stake also announced that renowned hacker think-tank the L0pht has merged
with the newly formed company. This strategic move reflects the firm's
commitment to build a world-class team of professionals offering
non-traditional, e-commerce-age security solutions for clients.
In addition, the company disclosed that it has received over $10 million in
initial funding from Battery Ventures, a leading high tech venture capital
firm whose other investments include Akamai Technologies, InfoSeek, and
Qtera. @Stake is the first company spawned from Battery's newly created
in-house incubator program.
"@Stake's independence and dedicated focus on Internet security
differentiate their approach from other providers," according to Tom Crotty,
general partner at Battery Ventures. "They have assembled a diverse team of
extreme talent from premier organizations including Forrester Research, the
L0pht, Cambridge Technology Partners, and Compaq Computer."
The company will offer a full range of security services enabling e-commerce
for Global 2000 clients. @Stake will focus on planning next-generation
security platforms that achieve long-term e-commerce objectives as well as
securing clients' immediate Internet needs. Key to the company's strategic
approach is building comprehensive security architectures to minimize the
impact of viruses, malicious attacks and other threats while maximizing
opportunity and competitiveness for firms engaged in the Internet economy.
The company's professional services span infrastructure security, including
VPNs and firewalls; content security, such as anti-virus and e-mail
scanning; application security, including fine-grained application access
control; and operations security, such as intrusion detection and scanning
@Stake's management team includes:
Dr. Daniel Geer, Chief Technology Officer, formerly vice president and
senior strategist at CertCo and director of engineering at Open Market. His
tenure as manager of systems development at MIT's Project Athena led to the
creation of, amongst other innovations, the X Window System and Kerberos.
Ted Julian, VP of Marketing and Business Development, formerly lead security
analyst at Forrester Research and known for the far-reaching impact of his
reports, "Security Suites: Dead on Arrival" and "Turning Security on Its
Mudge, VP of Research and Development, served as CEO/Chief Scientist of
hacker think-tank, the L0pht. Having appeared before the Committee on
Governmental Affairs of the US Senate to discuss vulnerabilities facing
technological resources, Mudge led the L0pht, a group of 'grey-hat hackers'
known for unorthodox, extreme technical sophistication.
Dr. Phil Tams, VP of Consulting and Operations, formerly a senior manager at
Cambridge Technology Partners and responsible for restructuring IT systems
and businesses to compete effectively in the Internet economy.
John J. Rando, Chairman of the Board, was previously senior vice president
and group general manager at Compaq. He is widely known for his work
developing software product services, pioneering new delivery methodologies,
and lifecycle service solutions in networking and systems integration.
"@Stake helps clients address the most critical issue facing their
e-commerce initiatives: maintaining the highest levels of security while
maximizing openness," said Ted Julian, Founder and VP of Marketing and
Business Development. "Our strategic approach is based on the premise that
true security lies in enabling the entire enterprise, rather than locking
down the system with unnecessary complexity and control."
"By enabling Internet objectives, our security services unleash enormous
benefits for organizations building their e-commerce operations," continued
According to IDC Research, the demand for network security consulting and
management services will reach over $1.6 billion in 2002. In addition, in
its November 29 brief, "exSourced Security Arrives," Forrester Research
"recommends the majority of businesses meet their security needs with
exSourcers … third-party security service providers that connect external
constituents with internal processes."
"The opportunity to join the first and only independent 'pure play' in the
field of Internet security consulting is perfect for the L0pht," according
to Mudge, now @Stake's VP of R&D. "@Stake's vendor neutrality, combined with
open lines of communication to the full spectrum of people dealing with
online security, allows us to remain true to our roots - security research
and execution which shatters industry myths and builds a totally new
@Stake executives will be participating in the major security trade show,
RSA 2000, scheduled for January 16-20 in San Jose.
With headquarters in Cambridge, Mass, @Stake is a specialized professional
services firm providing security solutions for the e-commerce operations of
global clients. More information can be found at www.atstake.com @Stake,
Inc. -- Securing the Internet Economysm.