Secure Enterprise Solutions Acquires MSI Inc.
Acquisition supports strategic growth, leadership in $7.1 billion information security market
(PRWEB) July 19, 2002
Hardyston, New Jersey, July 1, 2002 – Secure Enterprise Solutions Inc. (“SES”), a leading provider of secure information management solutions, today announced the acquisition of MSI (“MSI”) to further strengthen SES’ position in the US $7.1 billion information security market.
MSI is a privately held full-service physical security provider with expertise in four key areas: risk management, physical security safeguards, executive protection and guard services. The terms of the purchase agreement call for SES to issue approximately? common shares to shareholders of MSI as consideration for the purchase. Total consideration is subject to MSI achieving performance targets of US$4 million in revenue for the division over the next 12 months.
“The MSI acquisition is part of the aggressive growth strategy SES is pursuing to strengthen our position as a worldwide leader in end-to-end information and network security solutions,” said Randall Williams, President and CEO of SES. “These acquisitions deliver key security specialists, new security products and services, new markets with built-in clients and an increased capacity to serve new and existing clients around the globe. This will give SES a strong competitive advantage in a market expected to grow from US $7.1 billion to $17 billion by 2003 according to Bear Sterns and Aberdeen Group.”
Robert Johnson, President and CEO of MSI noted, “the relationship with SES will allow us to dramatically expand our service horizons and offer clients a complete range of security solutions. We’re excited by the prospects of being part of a company with the critical mass of talented people, services and products necessary for true information and security solutions industry leadership. Our ability to offer our Fortune 1000 client base a broader suite of end to end information security solutions has been exponentially enhanced.”
Williams added, “During our discussions with MSI, it became evident that there were considerable synergies between the two organizations. We saw that as one company, under the SES banner, we could further enhance our respective partnerships with companies like Verizon.”
About Secure Enterprise Solutions: “Information is Power. Protect It.”
Secure Enterprise Solutions is a leader in secure information management solutions including information security consulting and education services, risk management and assessment services, security software products, cyber crime investigations and computer forensics. They offer these services to government agencies, healthcare providers, financial services firms, etc. SESÂ’ International headquarters is located in Hardyston, NJ and they have regional offices in New York, Toronto, and Atlanta. SES has approximately 100 employees, 10 strategic partners and over 150 corporate clients.
