nCipher Inc., a provider of security technology for electronic commerce, said it hired Ian Smith as chief financial officer.
Mr. Smith was CFO of Fisons Instruments for seven years. His nCipher appointment followed completion of a second round of financing in October, which raised $2.35 million.
"His strong financial background and experience in U.S. and European markets will be particularly useful as nCipher expands its export business," said nCipher chief executive officer Alex van Someren. "He will also play a key role as we continue to look at finance opportunities to grow even further."
nCipher, founded in 1996 and an affiliate of Newbridge Networks Corp. of Canada, offers systems that accelerate and simplify data encryption and related operations.
Mr. Smith, an associate member of the Institute of Chartered Accountants who studied economics at York University in England, said, "My role is to help nCipher achieve its goal of becoming a key enabler in the deployment of fast, secure electronic commerce for banking, retailing, on-line stock trading, and other consumer industries that require secure transactions."