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Enlarged Clearswift is world's top email and web content security firm


The Board of Clearswift Corporation ("Clearswift"), the secure content
management company, is delighted to announce that its acquisition of
Content Technologies ("Content") from Baltimore Technologies plc
("Baltimore") was today approved by shareholders at an Extraordinary
General Meeting in London.



The acquisition has created a British company that will be the world's
number one company by market share for managing email and web secure
content. Following the acquisition, Clearswift will:



§ have a 30% world market share for managing email filtering


§ accelerate development of new products and services


§ be targeting expanded markets both geographically and vertically


The total consideration of £20.5 million comprises £12m in cash, £2.5m in
Clearswift 5% loan notes maturing in 12 months and £6m in preference shares
in Clearswift representing 11% of the enlarged company. To fund the
acquisition and provide additional working capital requirements to expand
and develop the enlarged business, Clearswift has secured £22m of new
funding from a consortium of venture capitalists - Kennet Capital, Cazenove
Private Equity and Amadeus Capital Partners.



Clearswift will take over Content Technologies' MIMEsweeper products, the
world's leading family of Web, Email and Intranet content security
solutions. These alongside Clearswift's award-winning Enterprise Email
Management solutions will command more than 11,000 customers and more than
10 million users worldwide.



Commenting on the acquisition, Don Taylor, Chief Executive of Clearswift,
said:



"We are delighted that our offer has been accepted. During the last six
weeks we have made significant progress in our plans to integrate both
organisations' people, products and processes. We are confident that
Content management and employees alike will welcome their secure new future
under the Clearswift banner and that together we can work to strengthen our
leading position worldwide."



The two companies are complementary in business, management, geography and
sales channels. Clearswift will accelerate its product development as a
result of the acquisition and be able to offer existing customers increased
support and services going forward as well as maintaining its joint track
record of market leading products.


-ends-




For further information, please contact:


Eric Leach
Eric Leach Marketing Ltd
07836 275 278


Paul Rutherford
Chief Marketing Officer, Clearswift
0118 924 1607

Notes to Editors:



About Clearswift:


Clearswift Corporation is a provider of award-winning Enterprise Email
Management solutions. Clearswift provides organisations worldwide with
highly scalable tools for content filtering, messaging policy enforcement
and email security. Clearswift ES (Enterprise Suite) is a portfolio of
products for larger enterprises, government organisations and service
providers. MailGuard is a streamlined product for small and medium sized
enterprises. Mistakes and malice using email can lead to high-profile
security breaches, expensive lawsuits and damaged reputations. Clearswift
products can combat the abuse of the email communications channel, in turn
offering protection and peace of mind.



The company is headquartered in Ruscombe, Berkshire, with a Software
Laboratory in Welwyn Garden City, Hertfordshire, UK. US headquarters are in
Waltham, Massachusetts. Clearswift traded as NET-TEL from 1982 to June
2001.


More information about Clearswift, its products and services is
available at http://www.clearswift.com



About Content Technologies:


Content Technologies' MIMEsweeper products are the world's leading family
of Web, Email and Intranet content security solutions. More than 10,000
customers and 10 million users globally use the award winning MIMEsweeper
solutions to protect their networks and business form email and Web-based
threats. These threats include the circulation of inappropriate images and
text, Spam and oversize files that can cause degradation in network
service, loss and corruption of data, breaches of confidentiality, as well
as viruses and malicious code.


For more information on Content
Technologies, see http://www.mimesweeper.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Eric Leach Marketing in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.