Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Access Control
LeftNav
Alarms
LeftNav
Biometrics
LeftNav
Detection
LeftNav
Deutsche Zone (German Zone)
LeftNav
Education, Training and Professional Services
LeftNav
Government Programmes
LeftNav
Guarding, Equipment and Enforcement
LeftNav
Industrial Computing Security
LeftNav
IT Security
LeftNav
Physical Security
LeftNav
Surveillance
LeftNav
View All
Other Carouselweb publications
Carousel Web
Defense File
New Materials
Pro Health Zone
Pro Manufacturing Zone
Pro Security Zone
Web Lec
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
 
News

DLP company acquires NAC experts

Cryptzone : 21 December, 2009  (Company News)
Through purchasing AppGate Network Security, Cryptzone has broadened its IT security scope into the area of Network Access Control
Cryptzone has signed an agreement to acquire IT security company AppGate Network Security. The new company will be a global player in the Nordic market, with enhanced presence in the UK and USA. The merger provides the opportunity for good revenue and cost synergies, which is expected to improve profitability significantly in the new joint company. AppGate is a global leader in access control in large networks. AppGates list of customers include global companies in the Fortune 500 companies, the military, defence industry and governments.

Cryptzone's and AppGate's products complement each other very well as the two companies both work in the field of DLP - 'Data Leak Prevention', but from two different angles. Today there is no overlap of product offerings. Cryptzone's acquisition strengthens its position as a market leader in information security. AppGate is estimated to have a turnover of 26 million SEK of which about 11 million SEK is fixed annual revenues in 2010, with positive results.

'I very much welcome the opportunities this acquisition provides us. The skills of both companies' staff is high, the products are world leaders and the joint customer base provides excellent potential for the future", says Cryptzone CEO Peter Davin. 'I see more synergies with the acquisition, both on the revenue side as on the cost side. The joint products complement each other extremely well and I see great potential for cross selling between the companies. The sales force will be doubled and both companies can utilize each other's supply chains to the fullest.'

'The acquisition will give clear and immediate synergies and I am pleased to see that we with this acquisition will realize a significant step in our long-term strategy to strengthen our market position and profitability, both through organic and acquired growth. AppGate is a company with world-leading products and a strong team that I really look forward to working with in the future.' Says Per Svantesson Chairman of Cryptzone.

'This feels like a very exciting new company that under the leadership of Peter Davin, will provide its customers effective and safe solutions. I also believe that the company's shareholders will get a nice value of development on their investment.' Says Mats Dahlin, Chairman of AppGate.

Cryptzone acquire 100% of AppGate for a cash consideration of 25.88 million SEK. Payment is by cash payment of SEK 9.0 million and a share issue of 120 571 429 shares in Cryptzone and 35 000 000 share options. The closing is expected to take place during the month of January 2010. The cash portion of the purchase price is ensured through external borrowing, which can be converted into new shares in Cryptzone. Decision on the issue referred to will be taken at an extraordinary shareholders meeting in January.

The turnover for both companies for the period January 1st 2009 to December 31st exceeds 20 million of which nearly 10 million comes from annual recurring revenue. The merger is expected to have a positive effect in 2010, both for current turnover and cash flow.
Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   © 2012 ProSecurityZone.com
Netgains Logo