JAWS TECHNOLOGIES PURCHASES NEW JERSEY-BASED SECURE DATA TECHNOLOGIES
CORPORATION DEVELOPERS OF SECURE CRIMINAL JUSTICE INFORMATION SYSTEM
Infrastructure & Computer Forensics Experts to be Integrated as JAWS
Law Enforcement Business Vertical
CALGARY, Alberta, Dec 30, 1999 /PRNewswire via COMTEX/ -- JAWS
Technologies Inc., (OTC Bulletin Board: JAWZ) announced today that it
has signed an agreement to acquire Secure Data Technologies Corporation
(SDTC) of Fairfield, New Jersey. SDTC provides numerous information
security services, including consulting, policy development, risk
assessment, penetration testing, firewall management, certificate
authority services, incident response, high-tech crime investigations,
computer forensics and training. The privately-held company was
incorporated in December 1998 as a spin-off division from Paradigm4, a
wireless services company.
"This is an important acquisition as it allows JAWS immediate entrance
into the law enforcement market, giving us local access to the eastern
seaboard of the U.S. and highly qualified expertise in high-tech crime
investigations, training and computer forensics," said Robert
Kubbernus, Chairman and CEO, JAWS Technologies Inc. "In fact, several
of the six security professionals in the company are licensed
investigators and have IT security backgrounds with many law
enforcement agencies including the New York Police Department, the FBI
and the Federal Protection Service."
In its first year of operation, SDTC partnered with industry-leading IT
software and hardware companies including Check Point Software, Entrust
Technologies, ActivCard S.A., AXENT Technologies, Cisco Systems, Nokia
and Datakey. Among SDTC's varied clients are New Jersey Townships of
Union and Cedar Grove, Shell Services International, Paradigm4, Lucent
Technologies, Grace Technologies, Strategic Procurement Services,
Circonix, HSBC Bank, Salve Regina University, Mesquite Police
Department, Long Hills Police Department, Suffolk County Police
Department, Township of Marlboro and the Borough of Sea Bright.
SDTC brings JAWS a new product called SendSecure(TM). SendSecure(TM)
when coupled with JAWS XMAIL(TM) Products will offer a comprehensive
secure e-mail solution. The SendSecure(TM) solution is based upon the
secure hosting of redundant mail servers behind an infrastructure
comprised of firewalls, intrusion detection systems and virus scanners.
It also supports token-based two-factor authentication and public key
infrastructure (PKI). The JAWS XMAIL(TM) email security software
completes the solution by providing strong data encryption.
The terms of the acquisition include the issuance of approximately 61,
000 shares of JAWS Technologies at an average issue price of $6.50, and
approximately $250,000. The shares will be issued over a three-year
period, based upon the achievement of revenue performance targets and
the retention of key employees.
In its first year of operations, SDTC generated approximately $400,000
in revenues, and JAWS' projects a total revenue target of $1.2 to $1.5
million in the year 2000 from this new law enforcement vertical.
Additionally, JAWS' anticipates that further increases to divisional
revenue can be generated from new product and service opportunities
resulting from this acquisition.
"We are very excited about being part of JAWS Technologies," said
Thomas Welch, Chief Executive Officer, Secure Data Technologies
Corporation. "There are numerous synergies between the two companies,
and we believe that we can contribute to the aggressive growth of the
information security space. Network and information security is an
enabler to e-commerce and JAWS is building a company that brings
security to the forefront of the IT industry. More importantly, what
JAWS is doing is making complex IT systems secure, seamless and simple
to our customers," said Welch.
"Not only are the major east coast business centers accessible from
this acquisition, we also anticipate serving the many law enforcement
agencies around the world, and providing value-added solutions to our
clients in other business areas," said Kubbernus. "For example, the
expertise of our new law enforcement division can also be outsourced to
other customers, especially those that have had an intrusion or attack
on their information systems. JAWS Law Enforcement Division can assist
in tracking from where an intrusion occurred, and then working with the
appropriate law enforcement agencies and or the judicial system to seek
damages. Hackers should consider themselves warned," said Kubbernus.
About Secure Data Technologies Secure Data Technologies Corporation
(SDTC) was formed in June 1998 as a professional consulting division of
Paradigm4, targeting security services for Fortune 1000 companies. In
December 1998, Paradigm4 spun SDTC off in order to provide the best
service to the information security market and to focus on core
security issues. Secure Data Technologies provides turnkey solutions
for information security needs, specializing in the law enforcement and
computer forensics areas. The company also offers extensive high-tech
crime training programs including Introduction to Computer Crime
Investigations, Computer Technology for the Information Security
Practitioner, Expert Witness Training and Computer Forensics. For more
information, visit the company's website at www.securedatatech.com.
About JAWS Technologies JAWS Technologies is a leading provider of
end-to-end security solutions, including information security
technology products, consulting services and secure Internet and remote
data storage and back-up. JAWS is based in Calgary, Canada and has
offices in Toronto, Canada and Pasadena, California, USA. Throughout
the world JAWS has over eighty employees, twenty strategic partners,
approximately 100 corporate clients and has distributed approximately
580,000 copies of JAWS XMAIL. JAWS Technologies is traded on the
NASD-OTC BB, under the symbol JAWZ. For more information, visit the
company's website at www.jawstech.com or call 1-888-301-5297.
Forward-looking statements and comments in this news release are made
pursuant to safe harbor provisions of the Securities Exchange Act of
1934. Such statements relating to, among other things, the prospects
for the companies to complete the transaction and enhance operating
results, are necessarily subject to risks and uncertainties, some of
which are significant in scope and nature. These risks may be further
discussed in periodic reports and registration statements to be filed
by the Company from time to time with the Securities and Exchange
Commission in the future. For more information, contact JAWS at
1-888-301-5297.
SOURCE JAWS Technologies Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Kerk Hilton, Director, Investor Relations & Communications of
JAWS Technologies, 403-508-5055, or Khilton@jawstech.com; or Kimberley
Emmerson of GPC/O'Neil, 416-598-0055, or Kemmerson@gpc.ca, for JAWS
Technologies
WEB PAGE: jawstech.com
GEOGRAPHY: Alberta
New Jersey
INDUSTRY CODE: CPR
MLM
SUBJECT CODE: TNM
OTC |
