CoreStreet Announces Strategic Investment and Technology Advancement Agreement with In-Q-Tel
Strategic Partnership with In-Q-Tel Plays Key Role in Introducing Breakthrough Converged Security Technology to the Intelligence Community
Cambridge, MA, March 25, 2008–CoreStreet, the leader in credential validation solutions, today announced a strategic investment and technology advancement agreement with In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the mission of the broader U.S. Intelligence Community. This agreement allows for development and enhancement of new converged security solutions, including breakthrough Card-Connected technology.
“Card-Connected technology uses strong cryptography to extend central access control to standalone doors and mobile locks, at a fraction of the cost of wired doors,” said Chris Broderick, CEO of CoreStreet. Within a CoreStreet-Enabled access control system, standalone electronic locks and physical access control systems communicate by reading and writing digitally signed data (privileges and logs) to and from smart cards. In this way, cardholders become an extension of the physical access network where cards, instead of wires, carry information to and from the standalone locks.
“CoreStreet is a critical addition to our strategic investment portfolio for security technologies,” said Ben Levitan, Partner at In-Q-Tel. “As part of our charter, In-Q-Tel evaluates innovative technology advances with specific applicability to the challenges facing the U.S. Intelligence Community. In-Q-Tel is pleased to be partnering with CoreStreet, a leader in the converged security market space. We are impressed with their creative solutions to physical security challenges and with the emerging eco-system supporting their innovative solutions.”
Physical security products incorporating CoreStreet’s Card-Connected technology enable enterprises to deploy physical access controls which are secure and manageable. The flagship Card-Connected products are a series of locks, such as the Kaba E-Plex 5900, that authenticate electronic credentials and enforce the enterprise’s policies. These locks ensure the enterprise can audit access to physical resources, manage the locks efficiently, and enforce policies in remote locations without dispatching support personnel or installing network connectivity.
Every day, the world’s most demanding government and commercial enterprises rely on CoreStreet technology to authorize critical events, ranging from signed communications and transactions to physical access. More information, including technical whitepapers, industry solution studies and a list of the patents awarded to the company, is available at http://www.corestreet.com.
In-Q-Tel is a strategic, not-for-profit investment firm that works to identify, adapt, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent organization, In-Q-Tel’s mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community’s critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community. In-Q-Tel concentrates on several broad commercial technology areas, including application software and analytics; communications and infrastructure; embedded systems and power; and bio, chemical, and nanotechnology. To date, In-Q-Tel has engaged with more than 100 companies and delivered more than 140 technology solutions to the Intelligence Community. To learn more about In-Q-Tel, visit http://www.iqt.org.