The IronKey Trusted Access Platform service is used by financial institutions to prevent online banking fraud by encrypting data in flight and at rest. In recent years, IronKey has been placing more of its resources into its security software products and services, which it sells to large enterprises such as banks in order to encrypt their sensitive data. Combined with the cloud-based IronKey Enterprise Management Service, data security can be managed and audited from anywhere in the world. IronKey secure storage devices are validated by the National Institute of Standards and Technology (NIST) to meet the stringent Level 3 criteria of FIPS 140-2. The highly secure devices carry with them a hefty price as well, costing around $108 for an 8GB model. The drive comes in a stainless steel case with no seams so it cannot be pried open. IronKey is perhaps best known for its highly secure USB flash drive, which uses a 256-bit AES encryption algorithm to secure data. The financial terms of the acquisition, expected to close within 30 days, were not disclosed. IronKey's hardware business has about 40 employees who will move over to Imation. Imation will take over the development and sales of IronKey's portable storage devices. has reached a deal to buy the hardware business of privately-held IronKey, best known for its highly secure USB flash drives. Storage device manufacturer Imation Corp.
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