Tel Aviv-based Memco Software Ltd plans to improve its suite of security software products with the acquisition of two companies for a total of $55m in cash and shares. The Tel Aviv company is buying AbirNet Ltd, a provider of network intrusion detection and usage monitoring software, and Network Information Technology Inc, which offers server security software. Gadi Maier, Memco CEO, said: Memco Software has grown rapidly by focusing on the fundamental problem in information security – making sure enterprise applications are secure and readily accessible to authorized users. With today’s acquisitions, Memco will leverage its leading position in enterprise server security to aggressively pursue the intrusion detection market. AbirNet, based in Israel with US headquarters in Dallas, has developed SessionWall-3 network software. It continuously monitors networks to identify internet-based attacks, intrusions or internal network abuses and, when problems are detected, it responds with blocking and alerts. Network Information Technology, based in Saratoga, California, develops the UniShield product line for server security and access control on Windows NT and Unix systems. The acquisitions come at a time when Memco is booming with revenues up 88% in the first quarter of this year. With hackers constantly in the news, systems administrators are beating a path to the door of companies like Memco.
