Apr 30, 2004 : Cyberguard Acquires Web Filter Firm
📅 - Network security solutions provider, CyberGuard Corporation(cyberguard.com) announced Friday that it has completed the $40-million acquisition of the high-end content security vendor Webwasher AG,based in Germany.
Webwasher develops and markets standalone and integrated solutions forInternet content security and filtering, including URL filtering, e-mailand spam filtering, virus protection, SSL filtering, Instant Message/Peer-to-Peer blocking and Internet usage reporting.
The acquisition amounts to $40 million, of which $8 million is in cash andthe remainder in stock. There is additional earn-out potential of $10million in stock subject to Webwasher achieving certain revenue and profittargets through CyberGuard's fiscal year ending next June.
"We are acquiring an industry leader in the very important secure contentmanagement segment of the information security market," said Pat Clawson,chairman and chief executive officer of CyberGuard. "This move makes oursecurity offering even more attractive to Global 1000 and governmentcustomers around the world. This should enhance sales, open newdistribution avenues and add to our bottom line in the months and yearsahead."
Webwasher develops and markets standalone and integrated solutions forInternet content security and filtering, including URL filtering, e-mailand spam filtering, virus protection, SSL filtering, Instant Message/Peer-to-Peer blocking and Internet usage reporting.
The acquisition amounts to $40 million, of which $8 million is in cash andthe remainder in stock. There is additional earn-out potential of $10million in stock subject to Webwasher achieving certain revenue and profittargets through CyberGuard's fiscal year ending next June.
"We are acquiring an industry leader in the very important secure contentmanagement segment of the information security market," said Pat Clawson,chairman and chief executive officer of CyberGuard. "This move makes oursecurity offering even more attractive to Global 1000 and governmentcustomers around the world. This should enhance sales, open newdistribution avenues and add to our bottom line in the months and yearsahead."
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URL source: http://www.thewhir.com/marketwatch/cyb043004.cfm
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