RSA Security Takes Next Step in Strategy Focused on Providing Digital Certificate Management Software to Secure Web Services and Applications
Bedford, MA— RSA Security Inc. (NASDAQ: RSAS) today announced that it has reached an agreement to transfer certain of its Swedish employees and facilities, as well as certain products to TFS Technology AB, a privately held Swedish software developer of email security and connectivity products. The transfer includes client/server single sign-on software, UNIX administrative security applications and desktop file encryption software, which make up the non-Web portion of the RSA Keon® product line. The affected employees represent the engineers who developed and supported these products in Sweden.
This transfer is an important step in RSA Security’s implementation of its PKI strategy, focused on securing Web services and applications. RSA Security has previously announced other elements of this strategy, including shipment of the RSA Keon Web Server SSL solution and a new release of the RSA Keon Certificate Authority, which adds features designed to provide seamless integration support for secure email with Microsoft® Exchange® Server and Microsoft Outlook® clients.
Under the terms of the transfer agreement, RSA Security will pay TFS Technology AB $3.8 million for TFS Technology’s assumption of all related employee and product support obligations. Following the closing of this transaction, TFS Technology AB will be responsible for selling, supporting and enhancing these solutions. The costs are included in the previously announced $8-$10 million in restructuring charges that RSA Security will take in the quarter ending June 30, 2002, attributable to workforce reduction and facility costs. RSA Security anticipates that it will close the transaction on or before July 1, 2002. RSA Security further anticipates that the disposition of these assets may result in a deduction for U.S. tax purposes.
“As previously announced, we are focusing our business and streamlining our product offerings to deliver security for Internet applications, especially Web-enablement, in the areas of authentication, Web access management and developer solutions,” said Bill McQuaide, senior vice president of the authentication products division at RSA Security. “RSA Security intends to work with its customers and employees to make this transition as smooth as possible.”
About RSA Security Inc.
RSA Security Inc., the most trusted name in e-security®, helps organizations build trusted e-business processes through its RSA SecurID® two-factor authentication, RSA ClearTrust® Web access management, RSA BSAFE® encryption and RSA Keon digital certificate management product families. With approximately one billion RSA BSAFE-enabled applications in use worldwide, more than 12 million RSA SecurID authentication users and almost 20 years of industry experience, RSA Security has the proven leadership and innovative technology to address the changing security needs of e-business and bring trust to the online economy. RSA Security can be reached at www.rsasecurity.com.
