RealTime IT News

British Firm to Unveil New Encryption Technology

Indicii Salus, a British research and development company, said it will soon launch an e-commerce security application called Xenophon.

The company, funded by venture capital group 3i Group Plc, said it plans to introduce the new encryption technology between April and June.

London-based Indicii said it is aiming for the European, U.S., and Asian markets by teaming up with a thus far undisclosed information technology (IT) vendor, according to Reuters.

Chief executive Paran Chandrasekaran was quoted as saying that a number of parties were also interested in licensing or buying the technology.

"It's more a bespoke solution for corporations who are trying to develop a public infrastructure," Chandrasekaran said.

The product will be offered at an expected retail price of between 80-90 pounds for the consumer version and 120-160 pounds for the more sophisticated corporate version.