iSheriff up for sale

in brief Australian security company Internet Sheriff Technology (iSheriff) has been put up for sale following what appears to be financial problems.

Insolvency accountants SV Partners advertised the business this week, saying the company operated from premises in Milton, Queensland, and Cremorne, New South Wales.

According to its website, iSheriff was founded in 1999. The company is led by executive director David Ramsay and non-executive chairman Glenn Tetley, and provides a range of security technologies; such as web filtering, anti-spam and antivirus and so on.

Its website states it has over one million users across the globe.

Updated at 4:53pm, 22 October 2010: In April 2010, iSheriff announced a management restructure and refinancing of the company.

"Our investors, the O'Leary Group, have provided a complete refinancing of the business and have heavily re-invested in the new company, its management and a shift in strategy to internet security as a service," Oscar Marquez, newly appointed CEO for iSheriff said in a statement.

"We have retained the core intellectual property and our key technical people from the old iSheriff and spent the last six months completing development of our SaaS solutions," he said. "Already we have received very strong support and encouragement from our global partner distribution network. And, our customers, who represent more than 1 million users, have have responded very positively to the new company and solution model."