NetScreen to Acquire OneSecure

August 23, 2002 -- Integrated security solution provider NetScreen Technologies Inc. (NetScreen.com) announced on Thursday that it has signed an agreement to acquire intrusion detection and prevention solution developer OneSecure Inc.

Under the terms of the transaction, which included approximately $40.3 million in NetScreen stock and the assumption of OneSecure’s outstanding options, NetScreen retains the option to substitute cash for a portion of the stock consideration.

NetScreen says the acquisition will expand the company’s product portolio to include an intrusion prevention appliance that will enable customers to enhance network security, and allow NetScreen to enter the intrusion detection system market.

"Intrusion prevention technology is required to protect networks from increasingly common application level attacks," said Nir Zuk, co-founder and chief technical officer at OneSecure. "Together with NetScreen we plan to deliver a new breed of purpose-built, integrated network security gateway devices that combine the best-of-breed firewall, VPN, intrusion prevention and detection and other security functions." Zuk will assume the newly created position of CTO at NetScreen upon completion of the acquisition.

Upon the completion of the acquisition, NetScreen plans to plans to immediately make intrusion detection protection available to its customers and channel partners worldwide. The company says it plans to integrate a subset of OneSecure technology into NetScreen’s integrated security systems and appliances, as well as incorporating the two companies’ management platforms, during the first half of 2003.