October 3, 2007; 05:15 AM
SAN DIEGO -- Websense, Inc. (NASDAQ:WBSN) today closed its
acquisition of SurfControl plc, as the scheme of arrangement relating
to the recommended offer for SurfControl plc, at a price of 700 pence
per share, has now become effective. The final purchase price is
approximately £204 million, including deferred compensation and stock
option expense. The acquisition represents a major milestone in the
execution of Websense’s growth strategy to expand its security product
portfolio and customer base through both internal development and
acquisition.
As
a result, Websense offers a powerful set of content security solutions
that intelligently protect customers from external malicious attacks
and internal information leaks, delivered as downloadable software, on
an appliance, and now as an on-demand hosted service. With the
acquisition of SurfControl, Websense has doubled its customer base to
more than 50,000 organizations worldwide and now protects content for
more than 42 million employees.
The company’s products now
include a complete set of content protection solutions, including Web
security, e-mail and spam filtering, and information leak prevention,
tailored to meet the specific requirements of small, medium and
enterprise-sized organizations. Over time, Websense plans to enhance
SurfControl’s on-demand platform to deliver other hosted content
protection services, such as information leak prevention services and
advanced Web security offerings based on Websense® ThreatSeeker™
technology.
SurfControl’s on-demand platform also bolsters
Websense’s ability to discover Internet-based threats. Websense is the
technology leader in Web threat discovery. Websense ThreatSeeker
technology scans more than 600 million Web sites per week identifying
and categorizing Web-based security threats. SurfControl’s on-demand
platform, which processes more than 350 million emails per week, gives
Websense more visibility into email-based threats such as spam. The
combination of Websense and SurfControl technologies offers
unparalleled Internet threat intelligence spanning both the Web and
email.
“Over the last year, Websense dramatically expanded its
product portfolio to offer a full range of content protection software,
Web security, messaging security, and information leak prevention,”
said Brian Burke, Program Director, Security Products and Services,
IDC. “Adding technologies and delivery platforms in high-growth content
security markets provides its customers and channels with a broader
range of security options. It also helps Websense further carve out its
unique niche in the broader IT security market.”
“Content is the
lifeblood of business, and its value makes it the next battleground in
security,” said Gene Hodges, CEO, Websense. “Only Websense offers
customers content protection solutions that combine deep knowledge of
the Internet with precise understanding of their information to create
powerful policies that govern who can use content, where it can go, and
how it can get there. We will leverage these capabilities, as well as
our increased scale and international reach, to drive continued
innovation in content protection and meet the challenges of a changing
threat environment.”
Websense also today announced a five-point pledge to SurfControl customers. Specifically, Websense pledged:
-- support for SurfControl’s flagship products – SurfControl® Web Filter and Mobile Filter – through 2011
--
enhanced database functionality for SurfControl Web Filter and Mobile
Filter by supplementing the SurfControl database with Websense’s own
comprehensive URL database of more than 30 million Web sites, including
more than 200,000 high-risk sites by the first calendar quarter of 2008
-- price protection for the first renewal of current SurfControl Web Filter and Mobile Filter subscriptions
--
continued investment and development in SurfControl E-mail Filter and
SurfControl on-demand products, MailControl and WebDefense
--
forums for on-going customer communication, focusing on the quality of
support and product direction, including a new integration Web portal
for SurfControl customers available on the Internet at
www.websense.com/acquisition.
“We hope to prove to SurfControl
customers and resellers that Websense is a trustworthy partner with the
vision, products, support and services to play an expanded role in
their security strategy,” added Hodges. “After five months of
integration planning, we’re ready to demonstrate our support for
SurfControl customers and resellers and take the next steps to deliver
on our vision and strategy.”
The transaction is being financed
through a combination of Websense’s existing cash resources and a $210
million term loan under a syndicated senior credit facility arranged
for by Morgan Stanley Senior Funding, Inc. and Bank of America NA as
syndication agent. The term loan is expected to close on October 11,
2007.
About Websense, Inc.
Websense, Inc. (NASDAQ: WBSN) protects more than 42 million
employees from external and internal computer security threats. Using a
combination of preemptive ThreatSeeker™ malicious content
identification and categorization technology and information leak
prevention technology, Websense helps make computing safe and
productive. Distributed through its global network of channel partners,
Websense software helps organizations block malicious code, prevent the
loss of confidential information and manage Internet and wireless
access. For more information, visit www.websense.com.