January 25, 2001 – Mountain View, California - Nokia today announced it has completed its acquisition of Ramp Networks, the Santa Clara, CA based provider of purpose built Internet security appliances specifically designed for small office applications.
On December 7, 2000, Nokia announced its intent to acquire Ramp Networks. Nokia acquired more than 90% of the outstanding shares of Ramp Networks common stock pursuant to a tender offer that expired on Friday, January 19, 2001. In the second step of the acquisition, a wholly owned subsidiary of Nokia merged with Ramp Networks on January 24, 2001 and Ramp Networks became a wholly owned subsidiary of Nokia.
This acquisition further strengthens Nokia's existing portfolio of leading IP Network Security solutions, allowing Nokia to extend enterprise class security to all sizes of businesses ranging from Fortune 500 to small office customers.
“During the last few years, Nokia has built a significant market position in the fast growing IP network security market. We see great synergies between the two companies' solutions and competencies," Dan MacDonald, vice president and general manager, Nokia Internet Communications.
The aggregate cash purchase price was approximately $127 million.
Nokia IP Network Security Solutions tightly integrate market-leading security software, including Check Point VPN-1/FW-1, with world class IP routing functionality on trusted Nokia IP Networks Security platforms, delivering high-performance network security solutions. These tightly integrated appliances are pre-configured and tested for rapid deployment and support a comprehensive suite of IP routing protocols and remote management capabilities. The result is a security specific, ready to deploy appliance designed to meet the most demanding security challenges - fully backed by Nokia’s world class “First Call-Final Resolution” technical support.
Nokia Internet Communications
Nokia Internet Communications, headquartered in Mountain View, California, provides world-class Network Security, Virtual Private Network and Wireless Software solutions that assure the security and reliability of corporate enterprise and managed service provider networks. Nokia is committed to enhancing the end user experience by bringing a new level of security and reliability to the network - enabling an internet transaction that is personal and trusted - each and every time. For more information, please visit www.nokia.com and click on IP Networking.
About Nokia
Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet, Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges.
Further information:
Laurie Armstrong, Media Relations Manager
Nokia Internet Communications Americas
Tel. +1 650 704 4652
laurie.armstrong@nokia.com
Jyrki Rosenberg
Nokia Corporate Communications
Tel: +358 7180 62865
jyrki.rosenberg@nokia.com
www.nokia.com