CyberGuard Completes Webwasher Acquisition.Business Editors/High-Tech Writers FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--April 29, 2004 Addition of Leading Secure Content Management Provider Advances Company Strategy of Building Broad-Spectrum Enterprise-Class Information Security Offering with Best-of-Breed Technologies CyberGuard Corporation (Nasdaq:CGFW), the technology leader in network security, today announced that it has completed the acquisition of German high-end content security vendor Webwasher AG. Named the fastest-growing Web filtering Blocking access to unwanted Internet content. Businesses can block content based on traffic type. For example, Web access might be allowed, but file transfers may not. Content can also be blocked by site, using lists of URLs cataloged by content that are updated frequently. provider by research firm IDC, Webwasher develops and markets standalone stand·a·lone adj. Self-contained and usually independently operating: a standalone computer terminal. and integrated solutions for Internet content security and filtering, including URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. filtering, e-mail and spam filtering A software routine that deletes incoming spam or diverts it to a "junk" mailbox (see spam folder). Also called "spam blockers," spam filters are built into a user's e-mail program. , virus protection, SSL (Secure Sockets Layer) The leading security protocol on the Internet. Developed by Netscape, SSL is widely used to do two things: to validate the identity of a Web site and to create an encrypted connection for sending credit card and other personal data. filtering, Instant Message/Peer-to-Peer blocking and Internet usage reporting. "We are acquiring an industry leader in the very important secure content management segment of the information security market," said Pat Clawson, chairman and chief executive officer of CyberGuard. "This move makes our security offering even more attractive to Global 1000 and government customers around the world. This should enhance sales, open new distribution avenues and add to our bottom line in the months and years ahead." The transaction, which was announced Monday, April 26, 2004, amounts to $40 million of which $8 million is in cash and the remainder in stock. There is additional earnout potential of $10 million in stock subject to Webwasher achieving certain revenue and profit targets through CyberGuard's fiscal year ending June 30, 2005. CyberGuard anticipates that the transaction will be accretive to earnings per share. "CyberGuard's strong application firewalls and VPNs and Webwasher's industry-leading application-level content filtering See Web filtering and parental control software. solution enable companies to securely and productively use the Internet for business transactions, research, e-commerce and e-mail," stated Clawson. "Companies can be more productive and more secure. They can stop spam E-mail that is not requested. Also known as "unsolicited commercial e-mail" (UCE), "unsolicited bulk e-mail" (UBE), "gray mail" and just plain "junk mail," the term is both a noun (the e-mail message) and a verb (to send it). , protect against today's dangerous and sophisticated worms and viruses, and prevent employees from visiting dangerous or inappropriate Web sites at work. This is a winning combination." More information about company integration plans and go-to-market strategies is available on the company's Web site at http://www.cyberguard.com/webwasher/webwasher_faq.cfm. About CyberGuard Corporation CyberGuard Corporation (Nasdaq:CGFW), the technology leader in network security, provides advanced Total Stream Protection(TM) solutions that protect the critical information assets of Global 2000 companies and governments worldwide. CyberGuard offers a broad line of scalable high performance firewall/VPN appliances, sophisticated security processors and accelerator products for the SSL and IPsec markets, and industry leading embedded Linux The Linux operating system configured and enhanced to work in a wide variety of applications, including handheld devices, network appliances, industrial machines and consumer electronics devices. The modularity of the Linux kernel makes it well suited to embedded systems. and Linux security solutions. Headquartered in Ft. Lauderdale, Florida, the company has branch offices and training centers around the world. More information about CyberGuard Corporation can be found at http://www.CyberGuard.com. 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. This press release contains forward-looking statements that involve certain risks, uncertainties and factors, including without limitation, those described in the Company's filings with the Securities and Exchange Commission, that may cause the Company's future actual results to materially differ from the Company's current expectations. The Company assumes no obligation to update any forward-looking statements. CyberGuard(R) is a registered trademark and Total Stream Protection(TM) is a trademark of CyberGuard Corporation. All other trademarks are property of their respective owners. |
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