Cisco Systems to Acquire Twingo Systems
New Endpoint Security Technology Enhances SSL-based Remote Access VPN Solutions
SAN JOSE, Calif., March 12, 2004 - Cisco Systems, Inc., today announced a definitive agreement to acquire privately-held Twingo Systems of Mountain View, Calif. Twingo Systems is a leading provider of desktop security solutions for Secure Socket Layer (SSL) Virtual Private Networks (VPNs). This acquisition advances Cisco's leadership in providing secure connectivity solutions and reinforces Cisco's Self Defending Network strategy, which dramatically improves the network's ability to identify, prevent, and respond to a range of security threats.
"Solving endpoint security issues and improving consistency of features and functionality regardless of location or end-system administrative permissions is key to the overall success of SSL VPN as a remote access technology," explained Richard Palmer, vice president and general manager, Cisco VPN and Security Business Unit. "Cisco's acquisition of Twingo Systems further emphasizes our commitment to endpoint security and complements our on-going development efforts in Network Admission Control and the Cisco Security Agent for assessing desktop security posture and delivering endpoint threat prevention."
Upon close of the acquisition, Cisco plans to incorporate Twingo's Virtual Secure Desktop into its existing WebVPN solution beginning with the Cisco VPN 3000 Concentrator series. Cisco will utilize Twingo's technology to bring the same quality of endpoint security available with IPSec VPNs to SSL VPN deployments. Key issues in SSL VPN endpoint security include a reliable and system-agnostic approach to fully erasing history files, temporary files, caches, cookies, e-mail file attachments and other downloaded data at the close of an SSL VPN user session. Additionally, users must be able to depend on SSL VPN to deliver connectivity that does not falter due to variations in browser security settings or client system administrative privileges. Twingo's Virtual Secure Desktop technology provides a consistent and reliable means of eliminating all traces of sensitive data by providing a single secured location for session activity and removal on the client system, as well as ensuring consistent functionality and application accessibility for end-users of SSL VPN.
Pursuant to the terms of the agreement, Cisco will acquire Twingo Systems for approximately $5 million in cash. The acquisition is expected to close in the third quarter of Cisco's 2004 fiscal year and is subject to customary closing conditions. Following completion of the acquisition, Twingo will become part of Cisco's VPN & Security Business Unit, reporting to Richard Palmer, and its products will be sold as part of the Cisco VPN 3000 Concentrator series under the Cisco brand through Cisco sales channels.
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