Lockdown goes down
We noted Brett Helsel had joined Isilon as a SVP for engineering after being Lockdown’s CEO and said it needed a powerful motive. There was one; Lockdown has gone belly-up.
It’s ceased trading. The company, which was developing network access control (NAC) products failed in its latest funding round and has run out of cash.
A statement on its website reads: ” Lockdown Networks today announced that it is ceasing operations effective March 18, 2008. Due to overall economic trends and slower than predicted adoption of Network Access Control (NAC) technology, the company was unable to raise additional sufficient venture capital to continue. Lockdown is contacting customers and partners directly to provide more information. Certain employees have been retained to oversee the shutdown of the company and entertain offers to Lockdown’s intellectual property. Anyone with questions and inquiries can call 206.285.8080 x110.”
Brett Helsel appears to have left a sinking ship after leading it onto the rocks. It reminds you of that scene in the first Pirates of the Caribbean movie where Captain Jack Sparrow, standing on the tip of his boat’s mast as it comes into the harbour, neatly steps onto dry land as the boat sinks under him.
Nice sidestep Jack.