Logsys Solutions Acquired by Authoriszor, Inc.Business/Technology Editors BURLINGTON, Mass.--(BUSINESS WIRE)--July 10, 2001 Acquisition Provides Authoriszor Clients With an Established Software Solution Provider and Important Access to a Public Sector Client Base Authoriszor Inc. (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 : AUTH AUTH Authority/Authorization/Authorized AUTH Author Auth Authentication AUTH Aristotle University of Thessaloniki AUTH Authentication Service ), a leading-edge provider of integrated secure access management solutions, today announced the acquisition of Logsys Solutions, a British software company known for its work on secure systems for government and business. Authoriszor, which produces its own range of network security products, has been building a portfolio of companies with expertise in secure systems. It is intended that Logsys will be integrated with WRDC WRDC Western Rural Development Center WRDC Women in Resource Development Committee WRDC World Radiation Data Centre WRDC Wisconsin Rural Development Center WRDC Wyoming Rural Development Council WRDC Wright Research and Development Center , the European communications consultancy that advises financial institutions and government organizations. Authoriszor also acquired WRDC this year. "It is rare to find two companies whose approach and client base are so complementary," said Paul Ayres, Chief Executive Officer of Authoriszor. "Logsys has a successful track record in providing secure workflow applications A workflow application is where various applications, components and people must be involved in the processing of data to complete an instance of a process. For example, consider a purchase order that moves through various departments for authorization and eventual purchase. to government agencies, and has successfully adapted its technology to meet the challenges of e-commerce. That is a good fit, both with WRDC's independent approach to network security and its established client base in financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . Both companies should benefit from the integration, and clients should enjoy a holistic approach holistic approach A term used in alternative health for a philosophical approach to health care, in which the entire Pt is evaluated and treated. See Alternative medicine, Holistic medicine. that can protect against both internal and external breaches of security." "In addition, having access to a strong portfolio of public sector clients at a time when the private sector is experiencing difficulties in the economic cycle provides a sound strategy to broaden business development opportunities for Authoriszor during challenging economic times," Mr. Ayres said. The acquisition of Logsys Solutions means that the WRDC's skill in auditing areas of vulnerability and identifying solutions will be added to Logsys's software development programs for workflow applications and e-business systems. "This merger further strengthens WRDC's professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. portfolio by adding a software house with a great deal of experience in providing workflow applications development," said Garcia Hanson, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Authoriszor and Chief Executive Officer of WRDC. The benefit for WRDC's client base will flow from access to a software house with a track record of delivering heavy-duty systems on time and on budget with assured security. "The acquisition by Authoriszor represents a significant step forward for Logsys Solutions by strengthening all operational areas of the business," said Craig Harper-Ashton, Technical Operations Director at Logsys. "The synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. between Authoriszor, Logsys and WRDC will allow us to add more value through extended services to our clients, as well as to offer a greater depth of professional service." A discussion of the terms of the transaction will be set forth in a Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. to be filed by Authoriszor Inc. with the Securities and Exchange Commission. About Authoriszor Authoriszor Inc. is a leading-edge provider of integrated security solutions. Authoriszor provides audits, assessments, product integration, and managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality for a wide range of organizations. Leveraging a skilled team of security experts and high-quality security technologies, the Authoriszor solution is designed to ensure organizations confidentiality, availability and integrity of their information infrastructure. Founded in 1997 by IT engineers, Authoriszor continues to evolve its security practices through progressive, leading-edge competencies in security products and development. The company's patent-pending technology focuses on providing multiple levels of information security, while maintaining the openness of the Internet. Headquartered in Burlington, Massachusetts Burlington is a town in Middlesex County, Massachusetts, United States. The population was 22,876 at the 2000 census. History Burlington was first settled in 1641 and was officially incorporated on February 28, 1799. with European headquarters in the United Kingdom, Authoriszor has sales offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe. For more information about Authoriszor, visit www.authoriszor.com. About WRDC WRDC, a subsidiary of Authoriszor, Inc., is a European communication consultancy specializing in information security, directory services and messaging solutions. WRDC provides end-to-end secure architecture based on security, access based control and directory technologies. Its skill base includes familiarity with a range of security products including Authoriszor, and experience in installing them. Clients include banks and financial services companies, leading industrial corporations, and government organizations. WRDC maintains offices in London, Leeds, and Zurich. For more information about WRDC, visit www.WRDC.com. About Logsys Logsys Solutions is a European software house developing e-business and Business Process Automation Systems. Logsys has a great deal of experience in workflow applications development specializing in government IT applications. Clients include government organizations, the Royal Navy, Royal Airforce and police forces, plus a number of private sector financial and IT companies. For more information about Logsys, visit www.logsys.co.uk. Authoriszor, Authoriszor 2000, SZ logo, A Logo and "Secures the Web" are trademarks or registered trademarks of Authoriszor Inc. or its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Authoriszor Ltd., in the United States, UK and other countries. This press release contains 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. . Actual results may differ materially from those projected in the forward-looking statements. These statements are based on current expectations of Authoriszor and are subject to risks and uncertainties that may cause actual results to be materially different from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: general economic conditions in Authoriszor's markets; those factors identified in Authoriszor's Form 10-QSB, for the quarter ended dated March 31, 2001 including without limitation, those factors identified as risk factors in Authoriszor's Prospectus, dated May 19, 2000, as supplemented, those factors identified in subsequent filings with the Securities and Exchange Commission and other factors that may affect business generally. |
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