--- begin forwarded text From: Somebody To: "Bob Hettinga" <[EMAIL PROTECTED]> Subject: Net security leader nCipher heads for float Date: Wed, 20 Sep 2000 10:48:09 +0100 Net security leader nCipher heads for float by NICK GOODWAY Cambridge-based nCipher, one of Britain's leading internet security companies, is to float on the stock market with an expected value of around £250 million. Best known for its security hardware, which is dipped in epoxy plastic to prevent it being tampered with, nCipher's blue-chip client list includes Barclays, Abbey National and Pricewaterhouse-Coopers in this country and the US Navy, Fidelity Brokerage and Microsoft's Hotmail overseas. The company was founded in 1996 by brothers Alex and Nicko van Someren and its hardware and software protection products include nForce, nShield and KeySafe. Currently loss-making, it saw revenues more than double in the first half of this year to £5.5 million. Ahead of its flotation nCipher has appointed Jamie Urquhart, chief operating officer of high-flying chip designer and near neighbour ARM, as a non-executive director. Venture capitalists 3i, Newbury Ventures, Celtic House and France's Viventures all have significant stakes. The founding brothers own 12% between them while other staff and employees own 15%. Chief executive Alex van Someren said: 'The float will give us the ability to move on to our next phase of development.' Sponsor Deutsche Bank is expected to issue a pathfinder prospectus shortly with flotation likely in the next month or so. © Associated Newspapers Ltd., 20 September 2000 --- end forwarded text -- ----------------- R. A. Hettinga <mailto: [EMAIL PROTECTED]> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
