Yes and No.
Delphix clones databases at the block level. It is not like an Oracle Export or other dump utilities which create the schema and then slowly populate it with insert statements. Rather, it virtually copies all the database blocks.
But we have a Masking product which takes the value out of the production data, allowing you to focus your security dollars on protecting production. We change the sensitive data into realistic but fake data.
Our solution to the problem, used successfully by many Fortune 500 customers, is to create a full virtual copy of production in your safe production zone, mask it one time, and distribute it many times to downstream customers in less secure areas (including offshore). This is much faster and more efficient than "dump and load" or subsetting techniques, and ultimately a lot more useful for developers and testers. In addition, your production zone Delphix engine can assist with more use cases: Production break/fix, Business Intelligence/Operational Reporting, and Compliance/Archiving.