NW_19991007_en_VASCO Makes Security Work in the E-security Marketplace by Acquiring Intellisoft Corp
OAKBROOK TERRACE, IL and BRUSSELS, BELGIUM – October 7, 1999 – In another major move since receiving equity financing earlier this year, VASCO Data Security International, Inc. (OTCBB: VDSI.OB) announced today that it has acquired IntelliSoft Corporation (www.isoft.com), a privately held security company based in Acton, Massachusetts. Financial terms of the acquisition were not disclosed.
IntelliSoft’s product line of true Secure Single Sign-on, Web Authorization, PKI, VPN, and Enterprise Management solutions complements and enhances VASCO’s global leadership in providing strong user authentication and client/server security. VASCO is already the secure choice of hundreds of financial institutions, corporations, and government agencies in more than 50 countries. Through this new acquisition, VASCO now offers its customers a proven and rapid path for bringing secure e-commerce and e-business initiatives to market.
"Whether you’re a business manager looking for a secure e-business edge, or an IT manager charged with securing your enterprise or an e-commerce application, VASCO now gives you the solutions you need to achieve true ‘speed-to-security’ at the lowest total cost of ownership ever," explained Mario Houthooft, President and CEO of VASCO Data Security. "VASCO makes security work."
As evidence, VASCO’s IntelliSoft solutions are already extensively deployed and making security work for blue-chip US customers such as John Hancock, 3M, Liberty Mutual, Duke University, Allmerica Financial, and Cable and Wireless. With a quarter-million seats licensed to such companies already, IntelliSoft has a stunning track record for a young company. According to Jonathan Chinitz, Vice President and General Manager of VASCO’s IntelliSoft division, this track record is based on the company having recognized – and met – a pent-up demand in the marketplace.
"The reason these and other leading companies chose IntelliSoft over far larger and more established security companies is really twofold," Chinitz noted. "First, we virtually eliminate the enormous amounts of time and money that organizations are now spending to integrate Internet and enterprise security solutions into their existing networks. That’s because our solutions allow companies to wrap security around users and new or even legacy applications, while requiring absolutely no changes or replacements to existing applications. We provide the ‘glue’ that easily and effectively binds together all security technologies throughout the corporate enterprise, and we do it with 100% transparency."
"The second critical reason," Chinitz continued, "is that thanks to our ‘client-free seating’ software approach, we free companies from being in the software distribution business and let them focus on their core business. For web security, there is absolutely no software to load to the desktop. For any other application, users can download the software over the network in seconds and install it on their desktops in under a minute. The bottom line is that we can secure an enterprise and its e-business applications more quickly and affordably – and we have the customers to prove it."
With IntelliSoft’s people and products on board, concluded Mario Houthooft, "VASCO will aggressively pursue the e-business, e-commerce, and enterprise security marketplace worldwide with innovative and exciting solutions to meet our customers’ business needs."
About VASCO Data Security
VASCO Data Security, a U.S. corporation, secures access to information and applications for financial institutions, corporations, and government agencies in more than 50 countries around the world. With over 2.75 million Digipass™ security devices sold, VASCO Data Security is now the number one provider of strong authentication solutions to the banking industry, and number two overall. Today, more than 130 banks and financial institutions rely on VASCO Data Security to secure their Internet, PC, and phone banking applications. For more information, call VASCO’s U.S. headquarters at 1.800.238.2726, its European headquarters at +32 18.104.22.168, or visit www.vasco.com.
Forward Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," or "expects" is forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
For more information please contact:
Media: Kerry Roche, Bridgeman Communications, +1 617 742 7270, [email protected]
Investor Relations: Todd Fromer, KCSA Public Relations Worldwide, +1 212 682 6300, [email protected]
VASCO: Mike Lange, +1 630 932 8844, [email protected]
Media (Benelux): Bob Pieters, Anthonissen & Associates, +32 3 286 7777, [email protected]
Media (Europe/Asia): Sven Kersten, HBI, +49 89 99 38 87 33, [email protected]
Investor Relations: Annemieke Blondeel, LBConsult, +44 208 308 7080, [email protected]
VASCO: Ariane Bosmans, +32 2 456 9810, [email protected]