Security firm considers online firm's data vault a safe buy

Leeds-based Humyo.com, which was established by entrepreneur Dan Conlon in 2007 with venture capital backing from Oakley Capital, was acquired by Tokyo-listed Trend Micro, which provides online security products, for an undisclosed sum.

The company will continue to provide online data storage for its 700,000 global customers, with Mr Conlon remaining with the business.

The company's 22 shareholders and venture capital backers will receive payouts on their investment.

Humyo.com uses bank grade encryption technology to protect over 350 million files for its users, using a former bank vault in Manchester as the home for its data servers. It employs 16 people in Leeds and seven in Germany.

Corporate lawyers at DLA Piper in Leeds, led by partner John Gallon with support from solicitor Paul Roberts, advised the shareholders of Humyo.com.

Mr Gallon said: "Humyo.com has seen huge success over the last three years, growing a global customer base of over half a million users and using the latest encryption technology.

"Humyo's acquisition by Trend Micro will allow the company to develop even further and capitalise on the growing demand for online data storage, which offers huge advantages to businesses and home users as it offers additional security whilst removing the need for dedicated storage space at home or in the office."

Mr Conlon added: "The rapid, comprehensive service of John and DLA Piper has been crucial to our success so far. We are delighted to now be teaming with Trend Micro, known for its innovation and its global market presence to capture the explosive global market for cloud data storage."

Mr Colon founded web hosting company Donhost in 2000. He sold the company to Pipex Communications in a multi-million pound deal in 2005 and became managing director of Pipex Hosting before leaving to co-found humyo in January 2007.

Humyo enables users to backup and synchronise their data on multiple machines, access it from anywhere and share it with friends and co-workers, while instantly replicating any changes onto Humyo's online storage facilities.