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Technology Stocks : CyberCash a buy? -- Ignore unavailable to you. Want to Upgrade?

To: jabbo who wrote (967)	4/14/1998 8:30:00 PM
From: Tom Hua	Respond to of 3990

Article in Computer Reseller. April 13, 1998, TechWeb News Options Abound: Buy? Merge? Team? -- Internet Companies Mull Over Different Ways To Provide Clients With Complete Solutions By Charlotte Dunlap San Mateo, Calif. -- In their unremitting efforts to offer complete Web solutions, Internet companies continue to acquire security software developers. Most recently, authentication vendor Security Dynamics Technologies Inc. purchased Intrusion Detection Inc., New York, for $32.5 million late last month. Bedford, Mass.-based Security Dynamics already owns RSA Data Security Inc. and is known for its hardware security tokens called SecurID. Security Dynamics hopes to extend its reach in the security marketplace through Intrusion Detection's flagship products-Kane Security Analyst and Kane Security Monitor. Security Dynamics will integrate these products into its SecurSight family of enterprise security software. It will also sell Kane Security Analyst and Kane Security Monitor as stand-alone products, the company said. "[Intrusion Detection's] products will extend the value of SecurSight and create new opportunities" for the company in systems-based monitoring tools, said Chuck Stuckey, chairman, president and chief executive of Security Dynamics. This market is expected to double. In fact, the security monitoring market, worth $50 million as of February, will reach $100 million by year's end, according to The Aberdeen Group, Boston. The purchase could make Security Dynamics a more powerful force to take on competitors, including Axent Technologies Inc., which markets a family of enterprise security management software called OmniGuard, industry observers said. Security vendors are looking to extend network management technology into areas such as monitoring, in order to make it simpler for IT managers to oversee technologies that include firewall and authentication, said security industry experts. Other Internet developers are not standing still. CyberCash Inc. and ICVerify Inc. recently agreed to merge in a combined stock and cash deal worth approximately $57 million. When ICVerify becomes a subsidiary of Reston, Va.-based CyberCash, the combined company aims to become a stronger force in the burgeoning Internet payment solutions market. Merchants and banks use the two companies' electronic transaction processing software to support Internet commerce. The developers provide software that allows merchants to accept credit cards and perform check guarantee and verification transactions. The merger is expected to be completed later this quarter. Through the deal, ICVerify shareholders will receive $16 million in cash and 2.3 million shares of CyberCash common stock, officials said in a statement. Thomas Aden will remain president and chief executive of Oakland, Calif.-based ICVerify and will also serve as an executive vice president of CyberCash. Steve Elefant, ICVerify co-founder and chairman, will become vice chairman of CyberCash. Eric Buchbinder, ICVerify's other co-founder, will become senior vice president of advanced technology. In addition to mergers and acquisitions, traditional enterprise computing developers and security providers are increasingly signing technology agreements. Symantec Corp., Cupertino, Calif., and Hewlett-Packard Co., Palo Alto, Calif., revealed plans to incorporate Symantec's pcAnywhere32 remote management software on all HP Brio PCs for small and midsize companies. Under a special promotion, HP will provide the software free to its resellers. In a separate deal, IBM Corp.'s commerce servers now support Waltham, Mass.-based Netegrity Inc.'s access control applications. Netegrity's SiteMinder will work with IBM Net.Commerce in an effort to simplify the process of setting up electronic commerce sites and include security.