CyberGuard Suspends Further Action on Offer to Purchase Secure Computing at This Time
Company Focuses on Integrating Existing Acquisitions, Roadmap and Global Branding Initiative
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 9, 2004--CyberGuard Corporation (Nasdaq:CGFW), the technology leader in network security, announced today that it is not pursuing its offer to acquire Secure Computing Corporation (Nasdaq:SCUR) any further at this time. CyberGuard offered to buy the California-based firewall vendor in a one-for-one stock exchange transaction on July 11, 2004.
"While we were disappointed that Secure Computing's board of directors declined to explore the opportunity and continue to believe that it would have been in the best interests of the market and our customers, employees and shareholders, we are not expending any additional effort on this matter at this time," stated Pat Clawson, chairman and chief executive officer of CyberGuard Corporation. "CyberGuard is in a strong position in terms of demand for our security offerings worldwide. The extension of our information security solution from the core to the edge with the addition of the SG product line along with our ability to deliver one of the most effective content filtering products on the market in the Webwasher Content Management Suite allows us to offer a comprehensive product to customers. We are focusing our efforts on integrating these and other new technologies under our powerful next-generation central management product - Global Command Center."
Clawson added that the company is beginning an aggressive global branding initiative to leverage CyberGuard's reputation for providing unparalleled security with the ability to offer a customizable solution for individual customer environments.
About CyberGuard Corporation
CyberGuard Corporation (Nasdaq:CGFW), the technology leader in network security, provides advanced Total Stream Protection(TM) solutions that protect the critical information assets of Global 2000 companies and governments worldwide. CyberGuard offers a broad line of scalable high performance firewall/VPN appliances, the Webwasher(R) suite of enterprise-class Web and e-mail content security solutions, sophisticated security processors and accelerator products for the SSL and IPsec markets, and industry leading embedded Linux(R) and Linux security solutions. Headquartered in Fort Lauderdale, Florida, the company has branch offices and training centers around the world. More information about CyberGuard Corporation can be found at http://www.cyberguard.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve certain risks, uncertainties and factors, including without limitation, those described in the Company's filings with the Securities and Exchange Commission that may cause the Company's future actual results to materially differ from the Company's current expectations. The Company assumes no obligation to update any forward-looking statements.
CyberGuard(R) and Webwasher(R) are registered trademarks and Total Stream Protection(TM) is a trademark of CyberGuard Corporation. Secure Computing(R) is a registered trademark of Secure Computing Corporation. All other trademarks are property of their respective owners.
Contacts
MPB Communications, Orlando, Fla.
Investor/Media Contact:
Cynthia Sucher, 407-581-4222 (o), 407-595-0142 (c)
csucher@mpbc.cc
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