Baltimore Technologies Nabs Another Security Firm
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A month after shelling out almost a billion dollars for large security firm Content Technologies, Baltimore Technologies Wednesday seized the much smaller Nevex Software Technologies Inc. in a stock deal worth $42 million.
Baltimore forked over 4.2 million shares for Canada-based Nevex, an innovator in authorization technology for secure e-business. Baltimore inked the deal to add centrally managed security provisions to its repertoire.
Baltimore said it feels policy-driven access and authorization management, hardly a mature market, is the cornerstone of any robust e-security deployment. The giant said it estimates that by 2002, 50 percent of e-business extranets and portals will use consolidated authentication and authorization systems.
Baltimore Chief Executive Officer Fran Rooney said all firms will need such policy-based mechanisms soon to ward off intruders. Jamie Lewis, Burton Group CEO, said buying Nevex increases the flexibility of Baltimore's products.
Baltimore did not say Wednesday how many employees it would fold in from Nevex or if the firm would shut its doors in Canada.