ST. LOUIS, July 7, 2010 -- Boeing [NYSE: BA] today announced an agreement to acquire Narus, a leading provider of real-time network traffic and analytics software used to protect against cyber attacks and persistent threats aimed at large Internet Protocol networks. The acquisition follows a successful partnership between the two companies and advances Boeing's strategy to offer world-class, scalable, state-of-the-art cybersecurity solutions.
Narus employs approximately 150 people globally; its headquarters are in Sunnyvale, Calif.
"This acquisition is another step forward in our strategy to develop integrated solutions for better network visibility, threat detection, and cybersecurity," said Roger Krone, president of Boeing Network & Space Systems, a business within the Boeing Defense, Space & Security (BDS) operating unit. "Narus' innovative employees and unique capabilities to secure complex networks will be a significant benefit to Boeing and our customers."
Narus is privately held and the terms of the transaction were not disclosed.
Once acquired, Narus will operate within Boeing's Network & Space Systems business as a wholly owned subsidiary. In addition to supporting cyber activities within Network & Space Systems, Narus' network-centric technology also will be applied to Boeing's smart grid energy work, the secure networking of Boeing's ground, air and space products, and the defense of the Boeing network.
"We're excited to join Boeing and provide its customers with our proven NarusInsight system and applications, which are currently used by governments and large service providers worldwide," said Narus Chief Executive Officer and President Greg Oslan. "We see this as a great opportunity to continue to serve our existing customers while expanding our network traffic analytics and cybersecurity solutions to new markets globally with the support and backing of The Boeing Company."
The acquisition is expected to close during the third quarter of 2010.
A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $34 billion business with 68,000 employees worldwide.
Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expects," "plans," "intends," "projects," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements regarding the proposed acquisition of Narus include, but are not limited to, statements regarding the expected timetable for completing the transaction, future business prospects, our guidance relating to 2010 and 2011 financial and operating performance, product development and benefits and synergies of the transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based upon assumptions about future events that may not prove to be accurate. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak to events only as of the date they are made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Specific factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, the effect of economic conditions in the United States and globally, the ability of the parties to satisfy the transaction conditions and consummate the merger, the risk that competing offers will be made, our ability to successfully integrate Narus' business and realize anticipated synergies, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.