Boeing Announces Agreement to Acquire Narus
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.
Source: BOEING
