When Baltimore Technologies sold its internet security division Content Technologies in 2002, Clearswift acquired it for £20.5m with backing from the venture capitalists Amadeus, Kennet and Cazenove. Headed by Jon Lee, Clearswift claims to be a world leader in secure messaging technology, with 15,000 customers, ranging from Nato to the life-assurance giant Standard Life. It says it has 20m end-users of its Mimesweeper software products, which vet incoming and outgoing company e-mails. Sales have increased by 216% a year from £2.3m in 2002 to £23.2m in 2004, when the company made a large loss.
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