NetScreen to acquire Neoteris
Security appliance vendor, NetScreen, has signed an agreement to acquire Neoteris for $US245 million in stock and $US20 million in cash. The acquisition will expand NetScreen’s product portfolio to include Neoteris’ ‘clientless’ SSL VPN remote access solution, which enables an enterprise remote user or extranet partner to securely access corporate resources via a standard Web browser. Neoteris’ SSL VPN remote access solution complements NetScreen’s current product portfolio of hardware-based network security solutions. As part of the acquisition, NetScreen will take on all outstanding Neoteris options and upon the achievement of certain revenue milestones, NetScreen will pay Neoteris stockholders and option holders up to an additional $US30 million in cash.
Siebel faces Q3 loss
Customer relationship management software vendor, Siebel Systems, has reported that it expects a loss in the third quarter, marking more gloomy news for the company, which has been beset by shrinking revenue. Earlier this month, the company announced in a preliminary earnings statement that it expected a loss of 12 cents per share. The company reported net income of $US9.8 million in the second quarter. The loss will include a $US107 million charge for restructuring and related activities, as Siebel had previously announced in July. At that time, its stated intention was to achieve a 15 per cent operating margin; the move included laying off 490 employees and the consolidation or elimination of facilities. Total revenue for the third quarter will be between $US320 million and $US322 million, down from second-quarter revenue of $US333 million.