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January 23, 2003
FORT LAUDERDALE, Fla. -- CyberGuard Corporation (AMEX:CFW - News), the technology leader in network security, today announced that the company has signed an agreement to acquire certain assets of NetOctave, Inc., for approximately $1.5 million in cash and stock. NetOctave is a leading manufacturer of security processors and accelerator boards and cards for the SSL (secure sockets layer) and IPSec (Internet protocol security) markets. With the acquisition, CyberGuard will gain new technology, engineering talent and a customer base for a product that ships throughout North America. NetOctave currently supplies its proprietary acceleration technology to leading OEMs (original equipment manufacturers) in the high speed switching, security and wireless networking markets. Scott Hammack, chairman and chief executive officer of CyberGuard Corporation, stated: "We are experiencing growing demand for our high-security, high performance security appliances. The NetOctave acquisition adds both new technologies and acceleration capability to our company and will allow us to deliver even faster appliances than we have today. In particular, it adds SSL expertise to our IPSec virtual private network (VPN) technology. NetOctave is regarded as having one of the fastest SSL accelerators available." Hammack added that CyberGuard will continue to provide full product support to all existing NetOctave customers. Subject to certain conditions, the transaction is expected to close on or before March 31. NetOctave Inc. CyberGuard Corp.
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