Sophos acquires Utimaco Safeware AG

By : |October 5, 2008 0

BOSTON, USA: Sophos Plc claimed that it has taken over Utimaco Safeware AG (Utimaco) after acquiring the required level of Utimaco Share capital. In accordance with the Offer Document, Sophos acquired more than 75 percent of Utimaco shares for a purchase price of EUR 14.75 per share as of September 30,2008.

"The enthusiastic customer and channel partner response that both Utimaco and Sophos have received reinforces how strategic this move is for both companies," said Steve Munford, CEO, Sophos.

Utimaco will form the core of a new business unit within Sophos focused on data security, under the leadership of Martin Wuelfert, CEO, Utimaco, with a mission to safeguard customers against intentional or unintentional loss of sensitive or confidential data.

Sophos previously announced results for the fiscal year ending March 31, 2008 with billings of $213.9 million, up 28 percent on the previous year.

Utimaco recently announced 2007-08 FY (ending June 30, 2008) revenue results of EUR 59.2 million, an increase of 20 percent over the year prior.Sophos intends to unveil its convergence roadmap and future security and control vision in the next 30 days.

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