Managed cloud company Rackspace wants to help its customers encrypt their data in the cloud and avoid being fined for non-compliance of regulations, such as the European Union’s general data protection regulation (GDPR) that will go into effect in May 2018.
Using Thales Vormetric Transparent Data Encryption platform, Rackspace launched a cybersecurity product called Privacy and Data Protection (PDP) that is intended to help customers identify and protect sensitive data such as intellectual property and customer payment information.
Rackspace’s PDP platform will help companies keep track of any sensitive data and make sure it is only accessed by approved company personnel. And it will provide detailed reporting on that data, including how it is being protected. This reporting is key for companies that are struggling to get their data and security protocols in order before the EU’s GDPR deadline next May.
The GDPR is intended to protect the data privacy of EU citizens by establishing uniform laws across EU member countries. The goal is to reduce complexity associated with compliance, and those companies that don’t meet the GDPR guidelines could face fines of up to $11.7 million.
But security threats are constantly evolving. According to a Forrester Research report, 49 percent of global network security decision-makers say they have experienced at least one breach during the past 12 months.
Rackspace’s PDP compliments the company’s other managed security and compliance products such as daily security monitoring and threat analysis.
Rackspace was acquired last August by private equity firm Apollo Global Management for $4.3 billion and is now a privately held firm. Since that acquisition, the company has been building its managed services business. Last month it announced two deals — one with Pivotal to offer a managed version of Pivotal Cloud Foundry and one with Google to offer managed services support for Google Cloud Platform.