Riptech

Riptech is a network security company in the United States. It was acquired by Symantec on July 17, 2002.
today announced the acquisition of Riptech, Inc. for approximately US$145 million in cash. The combination of the two companies will create the leading provider of managed security services worldwide monitoring and managing the largest number of security devices across the broadest array of solutions. The acquisition, conditioned upon customary regulatory approvals and other customary conditions contained in the acquisition agreement, is expected to close by mid-August 2002.
"Riptech has been identified as the clear leader in managed security services, with the strongest vision for the future of the industry," said John W. Thompson, Symantec chairman and chief executive officer. "They bring a proven infrastructure along with industry-specific expertise in the power and energy, financial services, healthcare and telecommunications sectors that we can leverage worldwide."
"Riptech has seen tremendous success in the last few years, currently providing comprehensive security monitoring and management for more than 500 customers in 30 countries including 55 of the Fortune 500, emerging e-businesses and government agencies," said Amit Yoran, Riptech president and chief executive officer. "By joining the world leader in Internet security, we can leverage Symantec's financial stability, channel strength, technology leadership and world-class response capabilities to significantly change the landscape of managed security services."