Chrysalis-ITS, Inc. was a leading provider of encryption subsystems for the network security industry focused on Certification Authority, Secure Virtual Private Network and SSL/SET hardware. Through its Luna technology, the company was uniquely positioned to deliver hardware encryption products which enhanced the trust and performance of enterprise networks. Chrysalis-ITS offerings included the leading certificate authority hardware security product, Luna CA, a secure digital signature and authentication encryption token, Luna 2, and the industry's top performing IPSec accelerator, Luna VPN. Chrysalis-ITS' advanced cryptographic technology is used in some of the most widely known enterprise security solutions from IBM, Netscape, Verisign, Digital Signature Trust, Entrust and Checkpoint Technologies Inc.

Our initial investment in Chrysalis-ITS Inc. was made in January 1999, a subsequent investment was made in January 2000. In September, 2003 Rainbow Technologies (NASDAQ:RNBO) acquired Chrysalis-ITS for US$20 million in cash.