CyberGuard Announces Sale of Arca Systems To Exodus Communications, Inc.FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--October 5, 1998-- CyberGuard Corporation (Nasdaq:CYBGE), a leading provider of network security and eCommerce solutions, today announced the sale of its Arca Systems professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. business to Exodus Communications Exodus Communications was a high-flying internet hosting and service provider to dot-com businesses that went broke along with their customers. Exodus inception Exodus was founded in 1992 as Fouress, Inc., and reincorporated in 1994 to Exodus Communications. (tm) Inc., a leading provider of Internet system and network management solutions for enterprises with mission-critical Internet operations. In exchange for the Arca Systems assets, CyberGuard received $3.4 million in cash and the return of consideration paid by CyberGuard to former Arca Systems shareholders at the time of CyberGuard's acquisition of Arca Systems. The former shareholders and CyberGuard executed mutual releases of liability to each other. "The sale of Arca Systems is a positive development for both companies, because it supports the re-focus of CyberGuard's core business objectives, while enhancing Exodus' security offerings," noted Tommy Steele Tommy Steele OBE (born December 17, 1936 in London, England) is an English entertainer. Steele is widely regarded as Britain's first pop idol. Born Thomas Willam Hicks , President and 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 CyberGuard Corporation. "Exodus Exodus (ĕk`sədəs), book of the Bible, 2d of the 5 books of the Law (the Pentateuch or Torah) ascribed by tradition to Moses. The book continues the story of the ancestors of Israel in Egypt, now grown in number to a large landless gains the premier provider of network and system security services Security services are state institutions for the provision of intelligence, primarily of a strategic nature, but also including protective security intelligence. Examples include the Security Service (MI5) and the Secret Intelligence Service (MI6) in the United Kingdom, and the and solutions. And through this sale, CyberGuard continues to solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. its position in response to recent liquidity issues, enabling the Company to focus on its strategic goal of claiming a leadership position in the network security and electronic commerce industries. CyberGuard looks forward to continuing a strong relationship with Arca Systems as we continue to provide expert security solutions to our customers and prospects." Arca Systems is a high-end security integration services firm specializing in practical applications of advanced security technology for information systems. The company provides its clients with the methods, tools, techniques and knowledge to securely process and communicate information. Arca Systems has provided assistance, guidance, planning, methods and training to a wide variety of customers in private industry and government organizations." "We will continue to work with CyberGuard as its network security and eCommerce solutions offer commercial and government customers data integrity and sound access control," explained Bill Wilson, President of Arca Systems. "We are pleased to have Arca Systems join Exodus, and expect this acquisition to allow us to work more closely with CyberGuard and its enterprise customers," noted Ellen Hancock Ellen Hancock is a long-time technology manager from the United States who has worked for IBM and Apple, among others. Hancock was born in the Bronx, New York City and raised in Westchester. , President and CEO of Exodus. About CyberGuard CyberGuard Corporation is a leading provider of enterprise security and electronic commerce solutions to Fortune 1000 companies and governments worldwide. CyberGuard's award winning, industrial-strength firewall and certificate authority products and services protect the integrity of data and applications from unauthorized access. The company has world headquarters in Ft. Lauderdale, Florida and branch offices worldwide. More information on CyberGuard Corporation can be found at http://www.cyberguard.com and http://www.tradewave.com Forward Looking Statements Statements regarding estimates and future prospects contained in this press release are forward looking statements. These statements are based upon assumptions and analyses made by the Company in light of current conditions, future developments, and other factors the Company believes are appropriate in the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , or information obtained from third parties, and are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are not guarantees and that actual results might differ materially from those suggested in the forward-looking statements. |
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