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January 24, 2006

nCipher in possible takeover approach

Cryptographic acceleration specialist nCipher Plc, which closed the year buying US identity provisioning software vendor Abridean Inc, has itself become the possible target of a takeover bid.

By CBR Staff Writer

Reacting to the recent upward movement in its stock price, the Cambridge, UK-based company released a statement yesterday that said it had received an approach which may or may not lead to an offer. That only led to further market speculation during the day, which helped push the company stock value up 14% by the close of trading in London.

The company competes mostly with SafeNet Inc, a supplier of encryption products, alongside a list of competitors in the broader data security markets that include the Racal division of Thales now known as Thales e-Security, as well as HP, IBM, and Sun.

nCipher releases full-year financial results on February 21.

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