CyberGuard Corporation Exploring Strategic Alternatives For Galaxy Search Engine.FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--July 2, 1998-- Company to Consult with H&Q on Potential Sale or Spin Off of Search Engine Acquired as Part of Tradewave Transaction CyberGuard Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CYBG), a leading provider of enterprise security and electronic commerce solutions, today announced that it is consulting with Hambrecht & Quist regarding strategic alternatives for the Galaxy search engine (http://galaxy.tradewave.com). These alternatives include the possible sale or spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. of Galaxy which CyberGuard acquired as part of the TradeWave transaction in April 1997. Galaxy was originally developed based upon research conducted at the Microelectronics microelectronics, branch of electronic technology devoted to the design and development of extremely small electronic devices that consume very little electric power. and Computer Technology Consortium (MCC (The Microelectronics and Computer Technology Corporation, Austin, TX) The first high-tech research and development consortium in the U.S., created in 1982 by leading companies within the electronics industry. ) and was one of the first search engines and directories on the Internet, predating YAHOO See Yahoo!. (World-Wide Web) Yahoo - Yet Another Hierarchical Officious/Obstreperous/Odiferous/Organized Oracle. (Or a member of a race of brutes in Swift's Gulliver's Travels who have the form and all the vices of man, or an uncouth or rowdy person). and Excite. Because of its early-to-market position, Galaxy was incorporated into the America-On-Line (AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ) home page and included in advertising when Internet access See how to access the Internet. was first offered to AOL customers. Galaxy's directory structure or "ontology ontology: see metaphysics. ontology Theory of being as such. It was originally called “first philosophy” by Aristotle. In the 18th century Christian Wolff contrasted ontology, or general metaphysics, with special metaphysical theories " is particularly well suited for the general research community and specifically to the medical communities. Presently, Galaxy receives between 250,000 and 400,000 "hits" per day which represents approximately 50,000 unique user visits to the site. "CyberGuard continues to manage its portfolio of assets in a manner which focuses on optimizing shareholder value," commented Robert L. Carberry, CyberGuard Chairman 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. . "As the Internet continues to grow and the search engine plays an increasingly important role from both an information and advertising perspective, the exact value of Galaxy is not known. We have asked H&Q to consult with the Company regarding the potential sale or spin off of Galaxy." The Company indicated that one scenario may involve CyberGuard contributing to operating the Galaxy search engine and related intellectual property with other strategic and financial partners contributing forms of support. Such a scenario would allow CyberGuard a continued equity participation in any future success. The Company gave no indication of the possible timeframe or possibility for successfully forming such a transaction. About CyberGuard CyberGuard Corporation (NASDAQ:CYBG) 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 hackers and digital thieves. CyberGuard's newly acquired professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. subsidiary, Arca Systems, provides unparalleled security consulting expertise and conducts independent trusted product evaluations on behalf of the U.S. Government's National Security Agency. The company has US 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 and http://www.arca.com CyberGuard Firewall is a trademark of CyberGuard Corporation. All other trademarks are property of their respective owners. NOTE TO EDITORS: More information on CyberGuard products and services is available through an email request to info@mail.cybg.com and from CyberGuard's web site at www.cyberguardcorp.com. For copies of recent press releases via fax, at no charge, call 800/344-4297.
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