AEP Networks To Acquire V-ONE Corporation in Major Push on Public-Sector VPN Market

Grayson to Head Up New AEP Networks Government Solutions Group

(01.06.05) - Networks, the specialist in network and application access security, announced it has entered into an agreement to acquire V-ONE Corporation (OTCPK: VNECQ). The acquisition is expected to close within 30 days. Terms of the transaction were not disclosed.

V-ONE is an internet security pioneer and one of the earliest commercial vendors of application layer SSL VPN technology that provides secure access to enterprise applications and data. V-ONE's products are widely used across diverse U.S. governmental agencies, including the Departments of Defense, Homeland Security, Justice and Treasury, and are deployed in critical infrastructure companies from the financial service, healthcare, transportation and high-tech sectors.

By combining V-ONE's extensive public-sector customer base, expertise and select products with its own broad suite of secure networking solutions, AEP Networks is poised to offer one of the most comprehensive, cost-effective and secure solution portfolios available to the fast-growing public-sector IT marketplace.

The V-ONE business will now become the AEP Networks Government Solutions Group. Margaret E. Grayson, formerly V-ONE's president and CEO, will serve as executive vice president and general manager of the new Government Solutions Group, headquartered in Rockville, Md.

"This strategic acquisition gives AEP Networks, virtually overnight, critical mass in the important U.S. government market for secure networking infrastructure," said Pat Donnellan, CEO of AEP Networks. "U.S. federal and state agencies tasked with critical duties such as homeland security have comprehensive security requirements for information-sharing across disparate networks that many VPN products simply do not address. The V-ONE acquisition makes an excellent fit with our Secure Networking and Secure Application business. And as we expand our presence in the public sector, we're fortunate to have Margaret Grayson, one of the nation's top cybersecurity experts, at the helm of our new business."

Donnellan added: "With this asset acquisition, we continue to execute on the strategic goals defined last December, when AEP Systems merged with Netilla Networks to form AEP Networks. We will continue to pursue targeted acquisitions in keeping with our goal of being the premier global specialist provider of secure networking and application access solutions." (AEP Networks: ra)