CyberGuard Sells Arca to Exodus
Page 1 of 1
CyberGuard said it also received unspecified compensation it paid to former Arca shareholders when it originally purchased Arca.
CyberGuard officials said the deal will allow it to strengthen its cash position and focus on increasing its e-commerce and network security businesses.
"The sale of Arca Systems is a positive development for both companies because it supports the refocus of CyberGuard's core business objectives while enhancing Exodus' security offerings," said Tommy Steele, CyberGuard's president and chief executive officer.
"We are pleased to have Arca Systems join Exodus and expect this acquisition to allow us to work more closely with CyberGuard and its enterprise customers," Hancock said.
Hancock, former chief technology officer at Apple Computer Inc., joined the company after being ousted at Apple in 1997 along with former chief Gil Amelio. She was promoted to CEO in early September.