Network Associates Inc. on Monday announced that PGP Corp. has acquired its PGP desktop and wireless encryption product lines.
Santa Clara, Calif.-based Network Associates had made public its intent to sell the business back in October 2001. Through the deal announced this week, the company will continue to support PGP products through October 2002, when PGP Corp. will assume all support responsibilities. Network Associates’ customers worldwide will be transitioned to PGP.
The terms of the agreement between the two companies state that PGP will acquire PGPmail, PGPwireless, PGPadmin, PGPdisk, PGPfile and PGPkeyserver encryption software products for Win32 and Mac, PGPsdk encryption development software kit as well as the PGP Corporate Desktop product for Mac for an undisclosed amount.
“PGP Corporation will build on the current PGP technology with a focus on simplifying user and IT deployment,” the company said in a statement. It will be offering additional details to customers about the transition phase shortly.
PGP Corp., a new company formed last month to take over development of the technology, is being backed by US$14 million in venture funding from Doll Capital Management and Venrock Associates, according to a statement issued Monday by PGP. The company’s management includes executives formerly in charge of early efforts around the technology, including its President and Chief Executive Officer, Phil Dunkelberger, who headed one of the first companies to sell PGP encryption software.
The Palo Alto, Calif.-based PGP uncloaked itself Monday in conjunction with an announcement regarding new products and the upcoming release of PGP version 8.0, an update to the widely used encryption application. PGP 8.0 will include new support for Windows XP and Mac OS X. Additionally, it will include a server-side plug-in for Lotus Notes, support for Novell Inc.’s GroupWise 5.5 and 6.0 clients, as well as enhanced support for internationalization, the company said.
In addition to its takeover of current versions of PGP products and PGP version 8.0, new products are expected to be available in November, PGP said.
-With files from IDG News Service
