Another CMGI:
Thursday January 13, 12:47 pm Eastern Time
Company Press Release
SOURCE: RSA Security Inc.
RSA Security Establishes RSA Capital to Accelerate the Growth of e-Business
RSA Venture Fund to Offer Up to $50 Million in Capital
BEDFORD, Mass., Jan. 13 /PRNewswire/ -- RSA Security Inc. (Nasdaq: RSAS - news), the most trusted name in e-security(TM), today announced the formation of RSA Capital, a wholly owned subsidiary that will invest in companies delivering the infrastructure, tools and applications designed to accelerate the growth of e-business. RSA Capital will seek to leverage the successful track record of RSA Security's investments in VeriSign, Netscape, CyberCash and other leading companies, and to provide RSA Security with a window into the evolving e-business technology and market landscape.
RSA Security's board of directors has authorized the establishment of RSA Capital's first fund, the $50 million RSA Venture Fund I, which intends to invest in e-business early- to mid-stage start-ups. In addition to VeriSign, Inc. (Nasdaq: VRSN - news), RSA Capital's existing portfolio includes investments in Trintech Group (Nasdaq: TTPA - news), Finjan Software, Ltd., nCipher Corporation Limited and VPNet Technologies, Inc.
''Our position as the creator and a leading supplier of critical public key cryptography required for secure e-Business services and applications gives us a unique perspective and opportunity for investment in this rapidly growing market,'' said Charles R. Stuckey, Jr., president of RSA Capital and chairman of RSA Security. ''With the formation of RSA Capital, we are now able to offer companies that are positioned to help accelerate the growth of e-business, the funding, market knowledge and contacts that can increase their prospects for success. We also can gain first hand insight into the emerging markets of our portfolio companies, providing RSA Security with unique insight into this growing e-Business market and an opportunity to enhance and create additional demand for its encryption, authentication and public key infrastructure security products.''
Additional information on RSA Capital is available at rsasecurity.com .
About RSA Security Inc.
RSA Security Inc., The Most Trusted Name in e-Security(TM), helps organizations build secure, trusted foundations for e-businesses through its RSA SecurID® two-factor authentication, RSA BSAFE® encryption and RSA Keon (TM) public key management systems. With nearly a half billion RSA BSAFE-enabled applications in use worldwide, more than six million RSA SecurID users and almost 20 years of industry experience, RSA Security has the proven leadership and innovative technology to address the changing security needs of e-business and bring trust to the new, online economy. RSA Security can be reached at www.rsasecurity.com.
NOTE: BSAFE and SecurID are registered trademarks, and Keon, RSA and The Most Trusted Name in e-Security are trademarks of RSA Security Inc. All other products and services mentioned are trademarks of their respective companies.
This press release contains forward-looking statements relating to investments to be made by RSA Security's subsidiary, RSA Capital. Such statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the ability of RSA Capital to find and close appropriate investment opportunities on terms satisfactory to RSA Capital, the success of such investments, general economic conditions and the risk factors detailed from time to time in Security Dynamics' periodic reports and registration statements filed with the Securities and Exchange Commission, including without limitation RSA Security's Annual Report on Form 10K (File No. 000-25120), filed on March 31, 1999.
SOURCE: RSA Security Inc.
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More Quotes and News: RSA Security Inc (NasdaqNM:RSAS - news)
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