Cryptographic specialist Zergo has snapped up public key infrastructure (PKI) company Baltimore in a deal valued at around #34 million.
According to UK based Zergo, the merger - which is subject to shareholder approval - will enable it to pursue the growing market for PKI.
The two companies will combine their product ranges and Henry Beker, current Chairman and chief executive of Zergo, will head up the new company. Fran Rooney, Baltimore CEO will be appointed chief operating officer for all global operations.
The two companies said that the market for PKI, encryption and authentication systems is forecast to be in excess of $3.5 billion in 2001.
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