Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : e-Commerce the Next 100 Months...... -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (821)	4/28/1998 1:48:00 PM
From: Frank Ferrari	Read Replies (1) \| Respond to of 2882

Has anyone been following this company? Difficult to find any information. I know the firewall products are very good, but I do not know much about SLM on the Toronto Exchange. Attention Business Editors: SLM SOFTWARE TO MAKE FRIENDLY BID FOR MILKYWAY NETWORKS SLM Software TSE Symbol: ESP Milkyway Networks TSE Symbol: MKY TORONTO, April 28 /CNW/ - SLM Software Inc. and Milkyway Networks Corporation are pleased to announce today that they have entered into a definitive agreement, whereby SLM will acquire 100% of the issued and outstanding common shares of Milkyway for $1.60 per Milkyway common share, payable 80 cents in cash and 80 cents in SLM common shares. The exact number of SLM common shares to be issued will be based upon the 10-day weighted average market price of the SLM common shares leading up to the mailing date of the bid circular, which is anticipated to be on or before May 11, 1998. SLM understands that Milkyway has approximately 10 million shares outstanding, on a fully diluted basis. This acquisition supports SLM's growth strategy and provides the company with essential communications security elements to facilitate its long-term electronic commerce strategy. ''Milkyway is an essential component of our business and product strategy, which is to acquire complementary products and technologies to provide our customers with the rich functionality and industrial strength security that E-commerce solutions demand. Milkyway gives SLM a serious play in the leadership market of Internet security assuring our clients that we will always have state-of-the-art security solutions integrated into our products. Milkyway brings to SLM leading-edge technology, technical expertise and a small, but prestigious financial services customer base. Milkyway also increases our worldwide revenue base, an important objective for SLM,'' said Govin Misir, Chairman and CEO, SLM Software Inc. ''Milkyway has spent over $9 million building its security suite, providing SLM with a short cut to the leading edge E-commerce solutions that are second to none in the market.'' Milkyway will continue to market its products independently of SLM's product line, providing investment protection and continuing innovation for their 1,000 existing customers. ''There are important synergies between Milkyway and SLM. SLM's strong international presence in the financial sector will enable Milkyway to expand its market reach into this security sensitive market. In addition, the combination of our two engineering organizations experienced in both UNIX and NT, gives us the critical mass to tackle even the most challenging innovation. Milkyway's products will become essential elements in SLM's product line as they are integrated into seamless electronic commerce solutions,'' said Mr. Ian Ferguson, President, Milkyway Networks Corporation. Milkyway is a world leader in Internet security systems including ''SecurIT'' UNIX and NT Firewalls, Virtual Private Networks and encrypted Internet tunnels. Milkyway distributes its products worldwide and has offices in Canada and the United States along with a network of distributors in Asia and Europe. Milkyway's focus is on enterprise security solutions for clients dependant on premium security for mission-critical applications such as E-commerce. Its ''Black Hole'' firewall technology was recently awarded a U.S. patent for critical elements of its architecture. In addition, its firewall is EAL-3 certified in Canada, U.S. and the U.K., placing it alone on the Evaluated Products Lists of those countries. The offer is subject to the customary conditions, including the acceptance by holders of 66 2/3rd of the Milkyway common shares. Lock-up agreements of Milkyway shareholders holding at least 48% of common shares have been signed. Founded in 1986, Toronto-based SLM Software took an early lead in the electronic financial revolution. Its open systems technology set the standard for on-line transaction management, enabling true hardware, database and protocol independence. SLM was the first to offer the financial services and health care markets the compatibility, flexibility and upward scalability necessary for global electronic service delivery. SLM's state-of-the-art ESP-Link(TM) product solutions help organizations maintain their competitive advantage in 35 countries on five continents, powering end-to-end electronic commerce solutions from credit and debit cards, smart cards, ATMs, point-of-sale terminals, in-branch services, Internet, telephone and PC banking systems to integrated, on-line medical insurance claims processing.