Aladdin Signs Definitive Agreement to Acquire all the Software Security-related Assets of Glenco Engineering, Inc.TEL AVIV, Israel--(BUSINESS WIRE)--May 7, 1996--Aladdin Knowledge Systems Ltd. (NASDAQ/NMS: ALDNF) today announced that its US subsidiary, Aladdin Knowledge Systems Aladdin Knowledge Systems NASDAQ: ALDN is a company that provides solutions for software digital rights management and Internet security since 1985. Its corporate headquarters are located in Tel Aviv, Israel. Inc. has signed a definitive agreement to acquire all the software security-related assets of Glenco Engineering, Inc., FAST Software Security AG's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. independent licensee. This announcement follows Aladdin's announcement dated April 16, 1996, that it signed a definitive agreement to acquire FAST, one of the three largest firms in the international software security market. Glenco's software security business accounted for revenues of approximately $3.3 million in 1995. Glenco is responsible for the marketing, sales and support of FAST's Hardlock product line in the Americas, the Far East and the Pacific Rim. The consideration for Glenco will be $5 million, payable in cash. "The Glenco transaction significantly enhances Aladdin's increasing market share and foot-hold in the North American market, and further amplifies Aladdin's position as the industry leader in technology, product quality, growth and profitability," said Scott Schreiman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Aladdin's US subsidiary. Mr. Schreiman also said that "this deal together with the FAST transaction add considerable critical mass to Aladdin in terms of global market presence, financial strength and technological capabilities." The transaction is subject to the completion of a due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. process, shareholders' approval and other customary approvals and arrangements Aladdin Knowledge Systems Ltd. is a leading supplier of advanced solutions for software developers. Aladdin develops, manufactures and markets proprietary software security and development systems, including HASP (Houston Automatic Spooling Program) A mainframe spooling program that provides task, job and data management functions. HASP - Houston Automatic Spooling Program (R) (Hardware Against Software Piracy), which combines hardware and software to prevent unauthorized use of computer programs, ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. (TM) (The Aladdin Smartcard Environment), an integrated toolkit for developing PC-based smartcard applications, and HOPE(TM) (The Human-Oriented Programming Environment), a revolutionary object-oriented team development environment. Aladdin has 5 international offices, distributors in 30 countries, and 10,000 clients in over 90 countries. CONTACT: Nurit Benjamini, Aladdin Knowledge Systems Tel TEL Telephone TEL Telegram TEL Telugu (langauge) TEL Terrorist Exclusion List TEL Technology-Enhanced Learning TEL Transporter-Erector-Launcher TEL Tetra-Ethyl Lead TEL Team Deutsche Telekom . +972-3-636-2222 or Katerina Charalambous, The Anne McBride Co. Tel. +212-752-0504 |
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