Porticor technology utilizes split-key encryption technology that is used to prevent the theft of encryption keys where they are stored and when they are in use, a process it refers to as Virtual Key Management. The term split key refers to how the keys work with the data in cloud-based applications. The Master Key, needed to un-encrypt data, is never stored in the user's cloud account or on the Porticor Key Management Service.
The company offers Porticor for Amazon Web Services, one of the major services for hosting applications for software vendors. It also markets Porticor for VMWare, which is one of the major applications for technology virtualization. Porticor was founded by Gilad Parann-Nissany in September 2009. He worked at SAP from 2007 through 2007 where he was chief technology of Small Business Solutions for his final two years
No terms were revealed for the deal with was completed via a share purchase agreement. However, on February 20, Intuit registered 6,511 shares of its common stock as it assumed obligations under the Porticor Incentive Plan for 2015. The shares have a maximum value of $580,667.