Cybertrust acquires most of Ubizen's stock
By David Hubler
Published on August 14, 2006
Cybertrust, a global information security provider based in Herndon, Va., has acquired 95.8 percent of the outstanding shares of Ubizen, its managed security solutions subsidiary headquartered in Leuven, Belgium.
Cybertrust said its objective is to acquire all outstanding shares and warrants of Ubizen and fully integrate the two entities.
Operational integration would improve efficiencies in working with both companies’ global customers and increase their financial strength and stability, according to a company statement.
“A fully integrated Cybertrust will create a leading global security services business, and completion of this transaction will position Cybertrust as a leading managed security services and consulting-service provider,” the statement reads.
The company’s board of directors has not decided whether to launch an effort to acquire Ubizen’s remaining outstanding shares and warrants, the statement adds. The board will announce that decision at a later date, it states.
Cybertrust is a privately held company that had $200 million in revenue in 2005, according to Hoover's.
Ubizen, which has 300 employees, was established in 1995 as a spin-off from Belgium’s largest university, Katholieke Universiteit Leuven.
It has technology partnerships with many security product vendors such as Equant, Check Point Software Technologies, RSA Security, Internet Security Systems, Cisco Systems, Nokia, Symantec and Sun Microsystems.
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