Merger fever continues unabated with Rockville, Maryland-based Axent Technologies Inc agreeing to merge with rival network security management company Raptor Systems Inc, in a deal worth approximately $250m. Axent, a three year old unit which was split off from its parent Raxco Inc early in 1996, specializes in policy-based centralized computer security management for large enterprises with its OmniGuard product line, while Raptor is best known for its Eagle firewall products for Unix and Windows NT. Both companies have been turning in losses recently. The intention is to combine the Omniguard suite with Eagle, which the two say will make the combined entity the first to address a full security management framework with web security access and firewall products. Since going public back in April, Axent said it was looking to use its cash war chest and healthy share price to flesh out its underlying framework technology. And Raptor has been attempting to move beyond its focus on firewall, acquiring the Axcess Web security product from electronic commerce firm Open Market Inc last year. Axent will integrate the two product lines and provide an enterprise security console for security management and administration. Axent says it will continue to integrate its security products with other products from Tivoli Systems Inc, Computer Associates International Inc, Hewlett-Packard Co and BMC Corp. Under the terms of the agreement, Axent will offer 0.80 shares of its common stock for each outstanding share of Raptor stock, and will exchange stock options using the same ratio.
