March 16, 2005 - (HOSTSEARCH.COM) - CyberGuard Corporation, a global provider of security solutions that protect the business-critical information assets of Global 2000 enterprises and government organizations, today announced the acquisition of Zix Corporation's (NASDAQ: ZIXI) anti-spam, anti-virus and URL filtering assets for $3.6 million in cash. The transaction, approved by the boards of directors of the two companies, transfers rights associated with the Web Inspector® and Message Inspector business to CyberGuard Corporation.
According to Pat Clawson, chairman and chief executive officer of CyberGuard, "With the addition of ZixCorp's Web Inspector and Message Inspector products, which will be integrated into our Webwasher business, we are strengthening our presence in content security and extending a strong European base into the U.S. and Canada with 1,600 new enterprise customers. This will increase our share of the content security market, a key strategic objective."
He added, "The acquisition should be accretive to earnings beginning in the quarter starting April 1, 2005. We will discuss the integration plan, synergies and earnings contribution in our next investor conference call."
Dr. Horst Joepen, CyberGuard's senior vice president of strategic alliances and general manager of the Webwasher subsidiary, commented, "This acquisition will provide us with excellent cross-selling opportunities, as we anticipate that a large number of WebInspector and MessageInspector enterprise customers will realize the benefits of our world-class Webwasher content security product suite, as well as our leading firewall solutions."
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