Internet security provider Commtouch Software Ltd. (CTCH) Monday said it has acquired Berlin, Germany-based eleven GmbH, effectively on November 16. In light of the acquisition, Commtouch raised its revenue outlook for the fiscal year 2012.
eleven is a provider of mail-based security solutions. Commtouch said that it will retain the eleven brand in the DACH region. Eleven's 60 employees will remain with the company.
The acquisition enables Commtouch to expand delivery of its private label cloud-based security solutions, specifically designed for OEM and service provider markets.
Robert Rothe, eleven CEO and founder, has been appointed as Chief Technology Officer and head of Commtouch's operations in Germany.
Looking ahead to the fiscal year 2012, the company has forecast revenues in a range of $23.7 million to $23.9 million. Adjusted earnings are expected to grow over $4.0 million.
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