Whitewood Encryption Systems, Inc., a developer of next-generation systems of data encryption that leverage advanced cryptographic technologies emerging from U.S. centers of research excellence, today named Richard Moulds, the former Vice President of Product Strategy and Marketing for Thales e-Security, as its new Vice President of Business Development and Strategy.

Moulds brings global experience in strategic planning and corporate development for market-leading IT security companies, with strong expertise in the areas of identity management, authentication, encryption, key management and data protection. An author and frequent public speaker on these topics, Moulds is renowned for championing the exploration of new market opportunities, while managing the growth in revenue and profitability of diverse product portfolios.

“The world today faces fundamental issues in establishing trust across increasingly distributed and virtualized systems. There is no question that cryptography will form the bedrock of our security systems, controlling access to critical applications and data, and mitigating the impact of data breaches,” said Moulds. “Whitewood’s unique technology will provide an essential capability in ensuring that encryption systems across the cloud, the enterprise data center and the critical national infrastructure can be deployed with confidence and managed effectively. Without these tools, poorly implemented encryption creates vulnerabilities that makes successful attacks inevitable.”

Prior to joining Whitewood, Moulds led the product strategy and marketing team at Thales e-Security, the market-leading provider of hardware security modules. In this role, Moulds championed successful initiatives to address the needs to protect data in public clouds and secure mobile payments, and to develop emerging markets in the areas of cryptocurrencies and the Internet of things.

Moulds also held executive positions at nCipher, a leading provider of data protection, encryption and key management solutions, serving as Vice President of Marketing and Product Management leading up to the company’s successful IPO on the London Stock Exchange and subsequent acquisition.

“Richard Moulds’ experience and expertise in data protection, cloud computing, and emerging markets is precisely what Whitewood needs at this stage of the company’s growth,” said John Serafini, Vice President at Allied Minds, the parent company of Whitewood. “He will help to commercialize Whitewood’s portfolio of powerful intellectual property and establish the company as a source of innovation and industry leadership. The core tenants of IT security and data protection are evolving rapidly and linchpin technologies such as encryption will play a vital role.”

Whitewood is a subsidiary of Allied Minds Federal Innovations, the division of Allied Minds dedicated to commercializing U.S.federal intellectual property. Allied Minds is an innovative U.S. science and technology development and commercialization company. Operating since 2006, Allied Minds forms, funds, manages and builds products and businesses based on innovative technologies developed at leading U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses and product development with capital, central management and shared services. More information about the Boston-based company can be found at www.alliedminds.com.