Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


04:22 PM
Dark Reading
Dark Reading
Products and Releases

Cryptzone Acquires AppGate Network Security AB

Companies both offer DLP products, but from different angles

Gothenburg, 17th of December 2009 - Cryptzone AB (publ) has signed an agreement to acquire IT security company AppGate Network Security AB (AppGate). 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, defense 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.

For more information, please contact: Peter Davin, CEO Cryptzone Phone: +46 31 773 86 09, Mobile: +46 701 83 91 99, Email: [email protected]

Per Svantesson, Chairman of the Board Cryptzone Mobile: +46 705 22 87 80, Email: [email protected]

Mats Dahlin, Chairman of the board AppGate Mobile: +46 705 92 51 86, Email: [email protected]

About Cryptzone: Cryptzone is a recognized leader in Data Leak Prevention solutions that secure data at rest and in transit by applying the industry strength Simple Encryption Platform (SEP). Cryptzone provides security solutions that people and companies actually can and will use, thereby increasing the overall data protection and minimizing data leaks. Cryptzone secures email, files, folders, disks, USB sticks and mobile terminals without forcing users to change the way they work, while giving IT departments' central control of user rights. The company has offices in Gothenburg, Stockholm (Sweden), New York (USA) and Munich (Germany). For more information about Cryptzone and the company's portfolio of Data Leak Prevention and encryption solutions, please visit www.cryptzone.com.

Cryptzone is listed and trading on First North. First North is an alternative market, operated by the different exchanges within NASDAQ OMX. Certified Adviser on First North: Thenberg & Kinde Fondkommission AB, Phone: +46 (0) 31-745 50 00.

About AppGate Network Security: AppGate supplies systems for secure access to computer based information and is a world leader in security solutions for role based access control. AppGate is a Swedish company with its roots in the defense industry. Products were developed in the late 1990s and AppGate Network Security AB was founded in 2002. The company has customers in over 20 countries, and among these may include some of the world's largest companies, institutions and public authorities. The main products include: AppGate Security Server, AppGate Free Edition, Secure Mobile Office and Mind Term.

Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
Manchester United Suffers Cyberattack
Dark Reading Staff 11/23/2020
As 'Anywhere Work' Evolves, Security Will Be Key Challenge
Robert Lemos, Contributing Writer,  11/23/2020
Cloud Security Startup Lightspin Emerges From Stealth
Kelly Sheridan, Staff Editor, Dark Reading,  11/24/2020
Register for Dark Reading Newsletters
White Papers
Cartoon Contest
Write a Caption, Win an Amazon Gift Card! Click Here
Latest Comment: This comment is waiting for review by our moderators.
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
PUBLISHED: 2020-11-28
In Eclipse Jetty version 9.4.0.RC0 to 9.4.34.v20201102, 10.0.0.alpha0 to 10.0.0.beta2, and 11.0.0.alpha0 to 11.0.0.beta2, if GZIP request body inflation is enabled and requests from different clients are multiplexed onto a single connection, and if an attacker can send a request with a body that is ...
PUBLISHED: 2020-11-27
blosc2.c in Blosc C-Blosc2 through 2.0.0.beta.5 has a heap-based buffer overflow when there is a lack of space to write compressed data.
PUBLISHED: 2020-11-27
npm package systeminformation before version 4.30.5 is vulnerable to Prototype Pollution leading to Command Injection. The issue was fixed with a rewrite of shell sanitations to avoid prototyper pollution problems. The issue is fixed in version 4.30.5. If you cannot upgrade, be sure to check or sani...
PUBLISHED: 2020-11-27
In Crafter CMS Crafter Studio 3.0.1 an unauthenticated attacker is able to inject malicious JavaScript code resulting in a stored/blind XSS in the admin panel.
PUBLISHED: 2020-11-27
In Crafter CMS Crafter Studio 3.0.1 an unauthenticated attacker is able to create a site with specially crafted XML that allows the retrieval of OS files out-of-band.