Unisys to Acquire ePresence Security Services BusinessAction positions Unisys for identity management market leadership
Blue Bell, Pa., October 23, 2003 – Unisys Corporation (NYSE: UIS) today announced that it has signed a definitive agreement with ePresence, Inc. (NASDAQ: EPRE) to acquire the assets of ePresence's security and identity management services business for approximately $11.5 million in cash. The agreement excludes ePresence's cash and its ownership in Switchboard Incorporated, a provider of online advertising solutions and Internet-based yellow pages.
ePresence consultants design and implement enterprise directory and security solutions that enable identity management within and across organizations. ePresence also brings Unisys a range of new security clients in both the private and public sectors.
Identity management is one of the top security challenges facing business and government. It involves providing clients, employees and partners with secure, consistent access to business resources, including networks, business applications and organizational information, through management of digital identities, such as passwords, digital certificates, and biometric identifiers. As a business strategy, identity management can create competitive advantage by fostering an environment where e-business transactions can be conducted with the highest security.
"This strategic acquisition furthers Unisys drive to become the premier provider of enterprise security solutions while positioning us for market leadership in identity management," said Janet B. Wallace, president, Unisys Global Infrastructure Services and the company's lead executive for security solutions. "Through the combination of ePresence's expertise and strong client relationships with Unisys dedicated resources and proven capabilities in identity management, Unisys is poised to provide clients with next-generation solutions designed to help them transform the way they transact business and enhance their competitive position."
"This acquisition will create a market-leading identity management consulting business that will benefit clients, partners and employees of both firms," said Bill Ferry, ePresence chairman and chief executive officer. "Unisys has a strategic vision in security and global execution capabilities that complement the focused skills of ePresence. Our talented consultants and services personnel can capitalize on Unisys expansive security solutions portfolio and deep vertical-industry expertise to provide clients with an expanded range of identity management solutions that deliver strategic benefits for their business."
Unisys has proven capabilities in integrating and deploying identity management solutions based on technologies from leading providers - including smart cards, biometrics, public key infrastructure and software tools for identity management, such as Microsoft Active Directory and Microsoft Identity Integration Server (IIS).
The additional highly skilled staff and new-generation security and identity management solutions from the ePresence acquisition will extend Unisys position and enhance Unisys Zero-Gap Security Services, an integrated portfolio of consulting, architecture and planning, design, implementation and management services and solutions that enable clients to address security requirements at all levels of their business.
The acquisition is expected to close in the fourth quarter of 2003. The transaction is subject to approval by ePresence shareholders, as well as customary closing conditions.
ePresence's press release may be viewed on the company's website at www.epresence.com. For further news on Unisys identity management initiatives, see today's press release announcing the newly appointed Security Advisory Board.
About ePresence ePresence, Inc. is a market leader in delivering Security and Identity Management (SIM) solutions that help companies reduce cost, enhance security, improve customer service and increase revenues. Our highly focused solutions leverage technologies such as enterprise directories, metadirectories, single sign-on and provisioning systems and have enabled numerous Fortune 1000-class companies to efficiently and securely provide personalized access to digital resources, thus maximizing the ROI of their IT-based initiatives. ePresence is headquartered in Westboro, Massachusetts and can be reached at (800) 222-6926 or online at www.epresence.com About Unisys Unisys is a worldwide information technology services and solutions company. We provide consulting, systems integration, outsourcing and infrastructure services, combined with powerful enterprise server technology. We specialize in helping clients use information to create efficient, secure business operations that allow them to achieve their business goals. Our consultants and industry experts work with clients to understand their business challenges and create greater visibility into critical linkages throughout their operations. For more information, visit www.unisys.com.
Forward Looking Statements Any statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the company's future financial results are discussed more fully in the company's periodic reports as filed with the Securities and Exchange Commission.
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