Start-Up Will Market PGP

Tuesday, 20 August 2002, 2:52 PM EST

Network Associates has unloaded its software portfolio based on the security technology PGP (Pretty Good Privacy) to a start-up launched Monday by a collection of security industry veterans.

PGP, a new company formed in July to take over development of the technology, is being backed by $14 million in venture funding from Doll Capital Management and Venrock Associates, according to a statement issued Monday by PGP.

The company's management includes executives formerly in charge of early efforts around the technology, including its president and chief executive officer, Phil Dunkelberger, who headed one of the first companies to sell PGP encryption software.

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