Just read this on the ASND News thread:
Scares like the one Ascend is facing make Wall Street
more fond of Internet Security Systems, or ISS Group,
which is slated to go public March 24. Recent enthusiasm
for Internet security offerings has helped boost interest in
the ISS offering. On March 2, the company expanded the
size of its offering to 3.0 million shares from 2.5 million
shares. The offering's expected range is $14 to $16 per
share.
ISS software products detect both intruders and soft
spots, alerting companies to potential problems with their
Internet boxes -- and that includes the alleged problems
found with Ascend gear. But, as with most good ideas
involving network equipment, ISS faces stiff competition:
the ubiquitous Cisco (CSCO:Nasdaq). Cisco recently
acquired WheelGroup, a closely held rival of ISS.
ISS backers, however, are not deterred. The Internet
security concern has a good lead on WheelGroup, and its
recent revenue record is robust. In addition, many Wall
Streeters believe that ISS could quickly become an
attractive target. Along with Cisco's recent purchase,
Network Associates (NETA:Nasdaq) said it will purchase
Trusted Information Systems (TISX:Nasdaq), or TIS.
It also said that ISS is losing money and is expected to continue losing money. ( I was always amazed that CHKPF was immediately profitable after going public, unlike the usual hot IPOs like Verisign and now ISS). They also mentioned some other intrusion-detection companies like Axent. Anybody familiar with these companies? |
