CERTICOM CORP - Acquisition of E-Commerce Security Consulting Firm:
Toronto, Ontario, Sep. 14, 2000 (Market News Publishing via COMTEX) -- Certicom Corp., a leading provider of mobile e-commerce security, announced it has acquired DRG Resources Group, Inc. (DRG), a leading e-commerce security consulting firm based in Redwood City, California in an all-stock deal.
Under the terms of the transaction, Certicom issued approximately 400, 000 common shares to DRG and assumed options exercisable to acquire an additional 100,000 common shares. The acquisition will be accounted for as a purchase transaction and is expected to be accretive to Certicom's business beginning with its second fiscal quarter ended October 31, 2000.
Founded by Wells Fargo e-commerce and security employees in 1997, DRG is a professional services organization providing secure electronic commerce consulting to application developers, network architects, and enterprises in the areas of e-banking, e-trading, e-payments, public key infrastructure (PKI), and smart-card systems. DRG's clients and their clients' customers implement leading edge wired and wireless secure e-business solutions.
"The acquisition of DRG is consistent with Certicom's strategic goal of expanding beyond cryptographic and protocol expertise," said Rick Dalmazzi, President and Chief Executive Officer of Certicom. "DRG and their expert consultants are highly-respected in our industry, and integrating their people into our company will allow us to meet the increased demand for professional services from Certicom. We used DRG in building our MobileTrust CA service and were extremely impressed with their organization. We are excited to have them on board."
"As security consultants and partners with some of the largest financial institutions and most innovative dot-coms, our clients have looked to DRG to lead them toward secure and innovative solutions to protect their e-business information assets. During that time, DRG has often partnered with Certicom to serve our clients needs and we continue to see strong interest from our clients in Certicom's wireless products and services," said Jim Cowing, President, DRG Resources Group, Inc.
About Certicom Certicom is an Internet security company specializing in solutions for mobile computing and wireless data applications. Major computing and communications companies such as BellSouth Wireless Data, Motorola, Palm, Inc., Pitney Bowes, QUALCOMM, Research In Motion and Sony use Certicom's technology to enable secure e-commerce transactions and enterprise applications. Certicom is a leading source for a complete range of security products and services, including cryptographic toolkits, security protocols, PKI and VPN products and professional services. Certicom's headquarters and worldwide sales and marketing operations are based in the Silicon Valley in Hayward, California, with cryptographic research and product development in Toronto, Canada. For more information, visit Certicom's Web site at certicom.com. |
