IRVINE, Calif.--(BUSINESS WIRE)--May 12, 1999--
Rainbow Technologies Inc. (NASDAQ:RNBO), Wednesday announced that it has acquired Systematic Systems Integration in a cash transaction valued at approximately $9.5 million.
Systematic Systems is a leading California-based eCommerce integration services firm with approximately 60 employees and 1998 revenues in excess of $8 million.
Walter Straub, president and chief executive officer of Rainbow, said: "Systematic enables companies to seamlessly integrate diverse software and hardware platforms, communication systems and Internet technologies. By combining their proven expertise with Rainbow's established leadership in digital security, we greatly enhance our ability to provide customers with the services critical to meet their eCommerce business needs."
Straub added: "This acquisition is a major step towards our goal to provide Internet services solutions to a broader market. It will enable us to help current and prospective customers to move existing business systems to the Internet -- securely."
Founded in 1984, Rainbow Technologies is a leader in applying security-related technology to solve business needs. Rainbow applies its core technology to a variety of Internet applications from securing software to the acceleration of secure communication for eCommerce and Virtual Private Networks.
Rainbow's products include secure web server and VPN acceleration boards; anti-piracy and Internet software distribution solutions; software metering and management tools; voice, data and satellite security systems; USB-based authentication tokens; and smart card readers.
The company has headquarters in Irvine and maintains offices throughout the United States, the United Kingdom, France, Germany, Australia, China, India, The Netherlands, Russia and Taiwan. Visit the Rainbow Technologies Web site at www.rainbow.com.
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. The company's actual results could differ materially from those indicated by such statements as a result of various factors, including the successful integration of the acquisition, its ability to build an e-commerce presence, and other factors discussed in Rainbow Technologies' Form 10-K and Form 10-Q on file with the Securities and Exchange Commission and other filings made with the SEC from time to time.









