CRYPTEK, a developer and provider of security solutions announced today the company has received approval to acquire SSGs assets through the terms of the bankruptcy court. The assets include SSGs current product portfolio, contracts, customer base, and their test and manufacturing facilities that will enable Cryptek to expand their current facilities in Sterling, Virginia. The transition of all assets will be complete by the end of March 2007.
"We are excited about this acquisition for many reasons," states Bill Anderson, President and CEO for Cryptek. "By acquiring these assets we are continuing to expand our Security and TEMPEST product offerings to include such solutions as Secure Video and Video Conferencing Systems. With the acquisition of the SSG assets, in combination with the EMCON acquisition, we are adding over 70 products to our portfolio with only a 4% net product overlap between the three (3) companies. These acquisitions allow us to quickly bring more products to market under the Cryptek name while utilizing our design, development and testing resources to support our portfolio of strategic product initiatives. The acquisition of the SSG assets is another step towards Cryptek becoming a leader in the TEMPEST market."
"We will now be able to offer all products acquired through these recent acquisitions in both the US and International markets," adds Glenn Ritzmann, VP TEMPEST and Fax. "In addition to the products we are adding to our portfolio, we are also adding additional resources in our engineering and manufacturing divisions. Cryptek is continuing to increase our number of Level 2 Certified TEMPEST Professionals in the industry as we position ourselves to be a major player in these markets and accounts."
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