Market Overview

Box Acquiring Subspace to Extend Content Securely to All Devices


Box (NYSE: BOX) today announced that it is acquiring Subspace, an innovative
startup that helps IT departments enable employee productivity with secure
collaboration and access to data on any device. All seven members of the
Subspace team – including founders Jon Fan, Ben Kus and Peter Loer – will join
Box. Subspace will shut down its operations as of April 3, 2015.

"Today's enterprises are faced with the challenge of helping employees be
productive and work from anywhere, while at the same time securing their
company's most valuable data," said Aaron Levie, co-founder and CEO of Box.
"Jon, Ben, Peter and the whole Subspace team bring an incredible depth of
experience and technology to solving this problem. We can't wait to have them
join Box as we continue to transform the way people and organizations work."

Founded in 2013, Subspace has pioneered the use of containerized browser
technology for managing access to valuable content from the rapidly growing
number of corporate and personal devices used in the workplace. Subspace's
technology enables people to be productive and collaborative, while at the
same time securing data stored on cloud applications and accessed from
laptops, mobile phones, and tablets.

At Box, the Subspace team will help extend the security, compliance and
control features of Box's content and collaboration platform to any device
used to access data, regardless of whether it's a company or personal device.
For example, Box's native Information Rights Management, which allows for
preview-only access to content, watermarking, download statistics, and other
advanced policies, will be able to be applied to any content on Box, even if
it's being accessed by a partner on a home computer or a contractor on a
mobile device.

"Box is pioneering enterprise content management in the cloud and changing how
millions of people around the world share and collaborate," said Jon Fan,
co-founder and CEO, Subspace. "No other company has been able to marry the
needs of knowledge workers to be more mobile and collaborative with the
security and compliance requirements of enterprise IT. Subspace was founded
with the same mission to make next-generation productivity as secure as
possible. We're thrilled to be joining Box."

Throughout the past several months Box has continued to invest aggressively in
security, compliance and administrative technology for its more than 44,000
customers, which include 48% of the Fortune 500. For example, in December 2014
Box announced Box Trust -- a unified network of more than 19 security partners
and solutions -- and Box Enterprise Mobility Management -- a new mobile app
for iOS and Android -- to ensure the best security, visibility and
accessibility for critical business content stored on Box. And in February
2015, Box launched Enterprise Key Management, a breakthrough in cloud-enabled
content management and collaboration that gives enterprises full control over
their encryption keys while still enabling all of the key experiences and
capabilities that make Box delightful to use for individuals.

For more details about Box's acquisition of Subspace, visit the Box blog.


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