| ST.
LOUIS, July 7 /PRNewswire-FirstCall/ -- 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
(www.boeing.com/bds)
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.
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Contact: David
Sidman Boeing
Communications 314-406-1818 david.sidman@boeing.com Deborah
Bosick Boeing
Communications 703-872-4505 deborah.d.bosick@boeing.com
SOURCE
Boeing Defense, Space & Security
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