QSC invests in start-up specialised in encrypted data

FRANKFURT Mon Feb 24, 2014 5:43am EST

FRANKFURT Feb 24 (Reuters) - German Internet service provider QSC said it was buying 51 percent of shares in FTAPI Software GmbH, a start-up company specialised in encrypted data exchange between business customers.

"Since the latest NSA spying scandal the security issue has become very important," QSC Chief Executive Juergen Hermann said in a statement on Monday, without saying how much QSC was paying for the stake.

QSC is buying most of the shares in Munich-based FTAPI, which offers a range of products around high-security transfer and storage of confidential company data, from the lead investor High-Tech Gruenderfonds as well as from Bayern Kapital and Gebrueder Mende GmbH, it said. (Reporting by Maria Sheahan; editing by Thomas Atkins)