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Exhibit 99.1
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SONICWALL COMPLETES ACQUISITION OF PHOBOS CORPORATION
Combined Product Line Offers Assess Security, Security Services and
Transaction Security to Customers of All Sizes
Sunnyvale, California, November 16, 2000 - SonicWALL (NASDAQ:SNWL), the leading
supplier of Internet access security and security services to small and medium
business, today announced that it has completed its acquisition of Phobos
Corporation, a manufacturer of Internet transaction security technology. The
purchase strengthens SonicWALL's presence in its core small and medium business
markets and also provides access to new markets in large enterprise, service
provider and e-commerce networks with transaction security and high-availability
solutions at affordable prices.
"Phobos' SSL and load balancing technologies can be easily integrated into our
industry leading Internet security appliances," said Sreekanth Ravi, President
and CEO of SonicWALL. "Our customers will now have one reliable source for
innovative high-performance, low cost Internet security products that combine
access security and security services, such as firewall, VPN and Anti-Virus,
with secure transaction acceleration and high availability to deliver robust
security support for mission-critical e-commerce applications."
"The markets for access security and secure Internet traffic management are
converging. This acquisition positions SonicWALL at the heart of a fast-growing
market that is increasingly demanding multifunctional security solutions," said
Brian Burke, a research analyst in Internet Security at IDC.
Based on SonicWALL's closing price of $18.81 on November 14, 2000, the
acquisition announced on October 17, is worth approximately $279 million in cash
and stock and will be accounted for under the purchase accounting method.
Phobos will become the Salt Lake City operations of SonicWALL and all of its
products will carry the SonicWALL brand name by year-end. The combined company
will be headquartered in Sunnyvale, California.
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About SonicWALL, Inc.
SonicWALL, Inc. (NASDAQ: SNWL) is the leading provider of Internet security
solutions for broadband customers in the small to medium size enterprise (SME),
branch office, telecommuter and education markets. The SonicWALL Internet
security appliance is a high-performance, solid-state product that provides a
robust, reliable, easy-to-use and affordable Internet security solution.
SonicWALL's family of Internet security appliances offers firewall protection
and an expanding array of value-added services. These services currently
include anti-virus, VPN, strong authentication using digital certificates and
content filtering. In addition, SonicWALL offers its Global Management System
for distributed enterprises and service providers that wish to provide managed
security services to their hosting or Internet access customers. SonicWALL,
Inc. is headquartered in Sunnyvale, California. For more information, contact
SonicWALL at (408) 745-9600 or visit the company Website at
http://www.sonicwall.com.
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For Additional Information Contact:
Raj Dhingra
SonicWALL, Inc.
(408) 752-7943
[email protected]
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David Pascoe
Phobos Corp.
(801) 743-2211
[email protected]
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Eric Anderson
Coltrin & Associates
(212) 221-1616
eric [email protected]
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Certain statements in this press release are "forward-looking statements" within
the meaning of the Securities Act of 1933, as amended. Forward-looking
statements are based on the opinions and estimates of management at the time the
statements are made and are subject to certain risks and uncertainties that
could cause actual results to differ materially from those anticipated in the
forward-looking statements. Factors that could affect SonicWALL's actual
results include, but are not limited to, the "Risk Factors" described in our
Securities and Exchange Commission filings, including our Prospectus dated March
16, 2000. All forward-looking statements included in this release are based
upon information available to SonicWALL as of the date of the release, and we
assume no obligation to update any such forward-looking statement.
SonicWALL is a registered trademark of SonicWALL, Inc. Other product and
company names mentioned herein may be trademarks and/or registered trademarks of
their respective companies.
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