Symantec to acquire Riptech

Issued by Symantec
Johannesburg, 22 Jul 2002

Symantec Corp today announced the acquisition of Riptech, Inc for approximately $145 million in cash. The combination of the two companies will create the leading provider of managed security services worldwide monitoring and managing the largest number of security devices across the broadest array of solutions. The acquisition, conditioned upon customary regulatory approvals and other customary conditions contained in the acquisition agreement, is expected to close by mid-August 2002.

"Riptech has been identified as the clear leader in managed security services, with the strongest vision for the future of the industry," said John W Thompson, Symantec chairman and chief executive officer. "They bring a proven infrastructure along with industry-specific expertise in the power and energy, financial services, healthcare and telecommunications sectors that we can leverage worldwide."

"Riptech has seen tremendous success in the last few years, currently providing comprehensive security monitoring and management for more than 500 customers in 30 countries including 55 of the Fortune 500, emerging e-businesses and government agencies," said Amit Yoran, Riptech president and chief executive officer. "By joining the world leader in Internet security, we can leverage Symantec's financial stability, channel strength, technology leadership and world-class response capabilities to significantly change the landscape of managed security services."

The combination of Symantec and Riptech will create a global network of world-class Security Operations Centers operating around the clock in Virginia, Texas, the UK, Germany and Japan.

Through a unique combination of cutting-edge technology, operational 24x7 Security Operations Centres and unparalleled staff expertise, Riptech combines active security vigilance with customized management and immediate response. Riptech's proprietary Caltarian technology platform collects data, normalises it and gives Riptech's industry leading security operations centre analysts the tools they need to actively interpret and address all security data from an entire network. The vendor-neutral solution supports all major security products.

Riptech

Riptech, Inc, the premier provider of scalable, real-time managed security services, protects clients through advanced outsourced security monitoring and professional services. Riptech's unique Caltarian technology platform provides real-time information protection through around-the-clock monitoring, analysis and response. The Caltarian technology is capable of processing volumes of network security data to separate security threats from false positives in real-time, with carrier-class scalability. Additionally, Riptech's Security Professional Services group provides security policy development, assessment and auditing, penetration testing, incident forensics, and response. Riptech security specialists have secured hundreds of organisations, including Fortune 500 companies and federal agencies. Based on its analysis of attacks against a customer base of more than 400 companies in over 30 countries, Riptech regularly publishes the Internet Security Threat Report, which can be found at www.riptech.com . Founded in 1998 by Department of Defense security professionals and market experts, Riptech delivers its service globally and is headquartered in Alexandria, Virginia, with offices in major metropolitan areas.

Symantec

Symantec, the world leader in Internet security technology, provides a broad range of content and network security software and appliance solutions to individuals, enterprises and service providers. The company is a leading provider of client, gateway and server security solutions for virus protection, firewall and virtual private network, vulnerability management, intrusion detection, Internet content and e-mail filtering, remote management technologies and security services to enterprises and service providers around the world. Symantec's Norton brand of consumer security products is a leader in worldwide retail sales and industry awards. Headquartered in Cupertino, California, Symantec has worldwide operations in 38 countries. For more information, please visit www.symantec.com.

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