[1443] in cryptography@c2.net mail archive
Cylink to acquire Algorithmic Research.
daemon@ATHENA.MIT.EDU (Griffin)
Mon Sep 8 19:55:13 1997
Date: Tue, 09 Sep 1997 07:45:15 +0700
From: Griffin <lpchiew@pc.jaring.my>
To: "cryptography@c2.net" <cryptography@c2.net>,
"ukcrypto@maillist.ox.ac.uk" <ukcrypto@maillist.ox.ac.uk>
This piece of interesting news was extracted from the SJ Mercury News.
With it's
management and ops still located in Israel, do the current US crypto
export laws
apply to them?? or will there be good news for the non-US countries?
Thanks.
Grif.
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Cylink to acquire Algorithmic Research
- Reuters
SUNNYVALE, Calif. -- Network security provider, Cylink Corp. said
Monday it has signed a definitive
agreement to acquire Israel-based Algorithmic Research for $83 million
in cash and stock.
Cylink said it will acquire the privately held information security
company for $44 million cash and almost 3
million shares of Cylink worth $38.7 million.
Algorithmic Research, which will become a wholly owned subsidiary of
Cylink, reported revenues of $7.25
million in 1996. It will continue to operate from its headquarters in
Givat Shmuel, Israel, under its current
management.
Algorithmic Research's remote access software products and smart-card
technology focus on the
expanding market for Internet-based communications, complementing
Cylink's existing network security
offerings, Cylink said.
Following the news, Sunnyvale, Calif.-based Cylink's stock rose $1 at
$14 on the Nasdaq market.
