Sophos completes takeover offer of Utimaco Safeware AG
Sophos Plc, a global leader in endpoint security and control solutions, today announced that it has acquired the necessary level of Utimaco share capital to proceed with the voluntary public takeover of Utimaco Safeware AG (Frankfurt Stock Exchange ISIN DE0007572406), a global leader in data security solutions for enterprises.
As anticipated and in accordance with the offer document, Sophos successfully acquired more than 75% of Utimaco Shares for a purchase price of EUR 14.75 per share as of 30 September 2008.
"Together our companies are exceptionally well-positioned to protect customer information and endpoints from both external and internal threats while also improving the manageability of security," said Steve Munford, CEO of Sophos.
"The enthusiastic customer and channel partner response that both Utimaco and Sophos have already received reinforces how strategic this move is for both companies."
Utimaco will form the core of a new business unit within Sophos focused on data security, under the leadership of Utimaco CEO Martin Wuelfert, with a mission to safeguard customers against intentional or unintentional loss of sensitive or confidential data.
"Utimaco has an outstanding leadership role in the global information protection market and will continue to focus on excellent solutions for our enterprise customers," said Martin Wuelfert, CEO of Utimaco. "We see this combination of two recognised industry leaders as very good news for our customers. Combining both companies' product innovation and development capacities and our joint global sales, marketing and support capacities will be game changing for the industry."
Sophos - the largest privately-held security company worldwide - previously announced results for the fiscal year ending 31 March 2008, with billings of $213.9 million, up 28% on the previous year. Utimaco recently announced 2007/2008 financial year (ending 30 June 2008) revenue results of EUR 59.2 million, an increase of 20% over the year prior. Further, Sophos now becomes the only company positioned by Gartner in the leaders' quadrants for both endpoint protection platform and mobile data protection, in addition to receiving a positive rating in the Gartner MarketScope for network access control.
Sophos intends to unveil its convergence roadmap and future security and control vision in the next 30 days.