Websense, Inc. has announced a definitive agreement to acquire PortAuthority Technologies, Inc., of Palo Alto, Calif., and Ra'anana, Israel, for approximately $90 million in cash. Through an existing OEM technology alliance established in September, Websense has been working with PortAuthority to enhance the Websense Deep Content Control technology to deliver security solutions that protect users and data from internal and external threats, both known and emerging.
Websense plans to deliver its information leak prevention software through worldwide channel partners, including those with an existing relationship with PortAuthority. The stockholders of PortAuthority have approved the proposed acquisition, to be effected via a merger between a subsidiary of Websense and PortAuthority. The closing of the merger is subject to standard closing conditions and is expected to close in January 2007. Upon closure of the transaction, Websense will assume the assets and liabilities of PortAuthority, including approximately $5 million in working capital and $4 million in indebtedness.