Network security outfit Axent Technologies Inc has acquired Fremont, California-based Internet Tools Inc, a provider of intrusion detection software. Under the terms of the agreed deal, Axent will issue 750,000 shares of common stock for the company, valuing the deal at about $26.5m, based on Tuesday’s closing price of $35.375. Axent says the acquisition greatly strengthens its internet security offerings for protecting web servers, e-business and intranets. It will integrate ITI’s ID-Trak with its existing intrusion detection products which it claims will make it the first vendor to offer customers a network-based and cross platform host-based intrusion detection system that can be managed and controlled from one console. The two say the integration work has already begun and that the resulting stand- alone, product will debut in the first quarter in North America and the second quarter worldwide. á
