DATM...
[ too bad i overslept today. <g>
Datum to Enter E-Commerce Market to Acquire Digital Delivery - Leading Provider of Secure Document Transmission
PR Newswire - April 14, 1999 06:45
Sets Stage for Industry First Trusted Time Security for Internet Applications
IRVINE, Calif., April 14 /PRNewswire/ -- Datum Inc. (Nasdaq: DATM), a worldwide leader in synchronization and timing, today announced it has signed a letter of intent to acquire Digital Delivery, Inc., a leading provider of secure information and product distribution software. The acquisition will provide the company with a gateway to aggressively pursue the e-business marketplace, and expedite its deployment of the industry's first trusted time infrastructure for Internet applications where security and authentication of transmission is essential. Terms of the transaction were not disclosed.
The joining of Digital Delivery and Datum is an important step in the strategic initiative into the e-business marketplace for both companies. Digital Delivery's software capabilities will drive a range of new applications for Datum's Trusted Time solution for security. Initially, these applications will utilize certified time stamps targeted at time- sensitive electronic transactions in the legal, financial and governmental markets.
"Time plays a critical role in all business transactions, particularly those conducted on the Internet. We believe, as Internet commerce grows, that security will become an ever-increasing factor." said Erik H. van der Kaay, President and Chief Executive Officer of Datum. "Acquiring Digital Delivery uniquely positions Datum to enhance its goal in becoming the de facto secure time source for Internet applications and e-commerce transactions."
"Combining our proven document security and access management software with Datum's timing infrastructure allows, for the first time, companies to control and prove when files are accessed and transactions are made," said Mark Hastings, President of Digital Delivery. "Our Fortune 500 customers continue to ask for additional features to further their ability to control how corporate information is moved inside and outside of their organizations, and now Datum is positioned to meet those needs."
Mr. van der Kaay added, "Mr. Hastings will become the President of Datum's E-business Solutions division to lead the company's move into this important, strategic new area. He brings to Datum an extensive knowledge of the Internet and the technologies required to succeed in this dramatically growing new environment. We expect Mark to be a key member of Datum's senior management team."
Digital Delivery's flagship product, Confidential Courier, allows a document author to securely distribute sensitive information in any format while maintaining control over post-receipt file movement. In combination with Datum's Trusted Time and Global Positioning System (GPS) technologies, Confidential Courier will allow companies to restrict access to sensitive information by time and location.
The proposed transaction is subject to the negotiation and execution of definitive transaction documents, the approval of the transaction by the respective boards of directors of the two companies and of the stockholders of Digital Delivery, and other customary closing conditions.
Datum designs, manufactures and markets high-performance timing and frequency solutions for telecommunications, computer networks, satellite systems, and test and measurement applications. Datum is the only company in the world that supplies the full range of timing technologies. Additional information about Datum's recent breakthrough timing technology is available at www.datum.com.
Based in Bedford, Mass., Digital Delivery, Inc. develops and markets software that enables corporations to secure and manage the electronic distribution of confidential information. Designed to safeguard individual files throughout their entire lifecycle -- from drafting to transmission to storage -- the company's turnkey solution, Confidential Courier, provides organizations in any industry with an easy and cost-effective way to distribute sensitive information to employees, customers and partners. For more information, visit Digital Delivery at www.digitaldelivery.com.
This press release contains forward-looking statements. The forward-looking statements, which reflect management's best judgment based on factors currently known, involve a number of risks and uncertainties, including the following: the failure to complete the Digital Delivery acquistion, competition, uncertainty of intellectual property protection and uncertainty of acceptance of the Datum's products and technology. These factors and other risks inherent in Datum's business are described from time to time in datum's SEC filings, including its Annual Report Form 10-K for the year ended December 31, 1998. Actual results may vary materially. Datum undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Datum, Inc.
/CONTACT: David A. Young, Chief Financial Officer of Datum Inc.,
949-598-7575; or Todd Friedman, or Jill Fatzinger of Morgen-Walke Associates,
415-296-7383, for Datum; or Joe Chernov of Miller Consulting, 617-262-1800,
for Digital Delivery/ |
