Press Release Source: Nexland, Inc.
Symantec Acquisition of Nexland Completed
Thursday July 17, 4:03 pm ET
MIAMI--(BUSINESS WIRE)--July 17, 2003--Nexland, Inc. (OTCBB:XLND - News) today announced that the acquisition of the company by Symantec, originally announced on February 13, 2003, has been completed.
Nexland has had a joint development relationship with Symantec for two years. Symantec currently licenses Nexland's technology for use in the Symantec Firewall/VPN Appliance series, which combines firewall, VPN, networking and other capabilities in a single unit to meet the unique needs of remote offices, branch offices and small businesses.
Headquartered in Miami, Nexland, Inc. designs, develops and markets secure, affordable and easy-to-use Internet security appliances for corporate branch offices and their telecommuters. Created with security in mind, Nexland's products support the use of virtual private networking (VPN) switches at companies' remote locations and are compatible with DSL, cable, wireless, ISDN and analog Internet connections. The main differentiating advantage of Nexland's products is their patent pending ability to allow encrypted VPN packets to "pass-through" the Network Address Translation performed by their appliances. Nexland's products allow multiple sessions of IPSec (Internet Protocol Security) and PPTP (Point to Point Tunneling Protocol) to pass through and single sessions of the L2TP (Level Two Tunneling Protocol) protocol.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. Forward-looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected by management. These statements are only predictions and may differ materially from actual future results or events. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with the possibility that the proposed transaction will not be completed.
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Contact:
Nexland, Inc., Miami
Gregory S. Levine, 305/358-7771 x206 |
