Secure Computing Corporation (NASDAQ: SCUR), a leading enterprise
gateway security company, today announced it has signed a
definitive agreement to acquire Securify, a provider of
identity-based monitoring solutions, for approximately $15 million
plus an earn-out of up to $5 million. The purchase price is payable
in cash or, at Secure Computing's election, partially in shares of
Secure Computing common stock. The acquisition is expected to close
in the fourth calendar quarter of 2008, subject to certain closing
conditions.
Securify, based in Cupertino, CA provides an innovative and
easy-to-use solution for monitoring and controlling user access to
applications within complex and rapidly changing networks. Its
"plug-and-play" appliance offers automatic discovery and policy
development in intuitive business terms of users, groups and
applications. By monitoring network traffic against these policies
and leveraging transparent integration with user directories
including Microsoft Active Directory, Securify's solution
immediately identifies and alerts organizations to out-of-policy
behavior in real time, whether accidental or intentional. Securify
can also initiate automated blocking actions in routers, switches
or, in the case of Secure Computing, in firewalls.
"In the near future, the combination of our products will
facilitate a seamless workflow where out-of-policy behavior can be
analyzed, reported and, in combination with Secure Firewall,
automatically mitigated," said Dan Ryan, president and chief
executive officer of Secure Computing. "Longer term, combining
Securify's technology with Secure Firewall will allow us to deliver
a unique, next-generation firewall that enforces business policy by
enabling visibility and control over applications and user access,
as opposed to the current paradigm of protocols and IP
addresses."
Increasing compliance demands and insider risk mitigation,
coupled with accelerated opening of the network, are shifting the
focus to internal user-based access control in the enterprise. This
necessitates not only true application recognition, but more
granular application-specific controls to balance adherence to
business/mission policy, compliance and security needs. In this
environment, control and availability gaps continue to grow as
infrastructure complexities increase and business change
accelerates.
"Old-school firewalls inspect packets and associate ports with
protocols and applications, but this is inadequate for the Web 2.0
world," said Chris Christiansen, program vice president, Security
Products and Services at IDC. "Today, most Internet traffic is
dynamic and applications run across multiple ports. In this dynamic
environment, enterprises worry that the increasing use of Web-based
applications may be responsible for leaked data, malware infections
and policy violations. With this acquisition, Secure Computing now
has the necessary capabilities for next-generation firewall
technology that includes application inspection and user-aware
access."
"Securify sells primarily into federal government and other
high-assurance markets, including financial services. This is
consistent with Secure Computing's core firewall market, and will
provide a significant opportunity to deliver complementary value
across existing and future customers both domestically and
internationally," said Buck French, chief executive officer at
Securify. "By joining forces with Secure Computing and building
upon their strength and expertise in the firewall market, we are
uniquely positioned to deliver a true next-generation security
solution to help customers control user access and behavior while
complying with today's increasing audit and policy
requirements."
Summary: Driving Security Market Leadership
This combination of Secure Computing and Securify technologies
will be instrumental in defining the next-generation enterprise
firewall market by providing these essential capabilities:
1. Application awareness and inspection that will enable organizations to
monitor and control all regular and encrypted traffic going in and out
of their network
2. Intrusion detection and prevention (IDS/IPS) using both signature- and
anomaly-based techniques
3. Global reputation and geo-location protection to provide immediate
defense against zero-hour threats
4. Automatic baseline traffic discovery to help organizations understand
their own typical network and application traffic patterns associated
with their users
5. User- and group-based policy development and enforcement to ensure
protection of key corporate resources to prevent inadvertent data
leaks
These capabilities, along with the stringent application-layer
common criteria certifications already awarded to Secure Firewall
will make this solution crucial to all enterprises upgrading their
firewall security.
Conference Call
Secure Computing will hold a conference call today at 4:30 p.m.
EDT to discuss the acquisition. To participate in the call, dial +1
(888) 324-2880 in North America or +1 (210) 839-8792
internationally, approximately five minutes prior to the scheduled
start time. The call is being simultaneously Web cast and can be
accessed at the Investor Relations section of the Secure Computing
Web Site at www.securecomputing.com. In addition, a telephone
replay will be made available through September 10, by accessing +1
(888) 562-2895 in North America or +1 (402) 220-6516
internationally.
About Secure Computing Corporation
Secure Computing Corporation (NASDAQ: SCUR), a leading provider
of enterprise gateway security, delivers a comprehensive set of
solutions that help customers protect their critical Web, email and
network assets. Over half the Fortune 50 and Fortune 500 are part
of our more than 22,000 global customers, supported by a worldwide
network of more than 2,000 partners. The company is headquartered
in San Jose, Calif., and has offices worldwide. For more
information, see http://www.securecomputing.com.
About Securify�, Inc.
Securify's identity-driven, network-based approach leverages
existing infrastructures to deliver a cost-effective way to
discover and control access and behavior broadly across networks as
well as systems. Today, Securify's identity-based solutions deliver
real-time discovery and control across 3 million users. Over 60
global enterprises and major Federal agencies, including some of
the largest and most complex networks in the world, have turned to
Securify to help reduce risk, improve compliance and streamline
network operations. Named as a Deloitte Fast 50/500 company, an
Inc. 500 company, a Fortune Magazine "Cool Company," and a Red
Herring Magazine Top Private Security Company, venture-backed
Securify is headquartered in Cupertino, CA with regional offices
throughout the United States. Please visit www.securify.com to
learn more.
This press release may contain forward-looking statements which
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned
that these forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from current expectations. For example, there can be no assurance
that demand for Secure Computing's products will continue at
current or greater levels, or that the company will continue to
grow revenues, or be profitable, or that the company will be able
to motivate and retain key employees, staff current and future
projects in a cost-effective manner, or effectively control its
marketing, research, development and administrative costs. There
are also risks that the company's pursuit of providing network
security technology might not be successful, or that if successful,
it will not materially enhance the company's financial performance;
that changes in customer requirements and other general economic
and political uncertainties and weaknesses in geographic regions of
the world could impact the company's relationship with its
customers, partners and alliances; and that delays in product
development, competitive pressures or technical difficulties could
impact timely delivery of next-generation products; and other risks
and uncertainties that are described from time to time in our
periodic reports filed with the Securities and Exchange Commission.
The company specifically disclaims any responsibility for updating
these forward-looking statements.
Contacts: Sarah Tolle Secure Computing Corporation 408-494-2076
Email Contact Rich Mullikin Contos Dunne Communications LLC
925-779-9115 cell Email Contact
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