Pilot Network's Shares Jump 23% Following Deal With Sun, Cisco
Dow Jones Online News, Wednesday, March 24, 1999 at 20:51
ALAMEDA, N.Y. -(Dow Jones)- Shares of Pilot Network Services Inc., an
electronic security company, shot up 23% Wednesday on news it signed a
marketing and development alliance with Sun Microsystems Inc. and Cisco
Systems Inc.
Sun Microsystems (SUNW) makes various computer hardware and software
products. Cisco Systems (CSCO) is the biggest networking-equipment
supplier.
The companies said the firms will establish virtual private network,
or VPN, connections through wide-area networks. VPNs integrate fixed and
mobile telephone lines into a single corporate network. The companies
plan to enable other firms to connect their older corporate networks to
customers and partners through highly-secure Internet VPNs.
Pilot (PILT) shares closed up $2.563, or 23%, at $13.313 on Nasdaq
volume of 1.7 million shares. Average daily volume is 181,000.
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