SonicWALL, Inc. to Acquire Aventail Corporation

Transaction brings together complementary technologies and go-to-market

models to serve a broader customer set



Jun 12, 2007, 01:00 ET from SonicWALL, Inc.

    SUNNYVALE, Calif., June 12 /PRNewswire-FirstCall/ -- SonicWALL, Inc.
 (Nasdaq:   SNWL), a leading provider of IT security and data backup and
 recovery solutions, today announced that it has entered into an agreement
 to acquire Aventail Corporation, a Seattle-based, privately-held provider
 of market-leading SSL VPN remote access solutions, for approximately $25
 million in cash. The transaction is expected to close in July, 2007 and is
 subject to customary conditions. SonicWALL expects that there will be no
 impact from the transaction to its financial performance in the second
 quarter of 2007 and reaffirms its revenue guidance of $45-$47 million.
     Improving secure remote access is among the top priorities of today's
 distributed, global enterprises. Consensus from industry analysts indicates
 that 85% or more of the data that IT managers seek to protect originates
 outside the corporate network. To address this growing need, Chief Security
 Officers are seeking comprehensive remote access solution sets and products
 combining high performance with value, and capable of integration into
 multi-faceted IT environments.
     Today's move enables SonicWALL to better meet the needs of a broader
 set of customers by combining the two companies' complementary SSL VPN
 offerings. Aventail is recognized as a leader and visionary for its
 higher-end SSL VPN enterprise control deployments. With its suite of
 appliances designed for small and mid-sized organizations, SonicWALL has
 become the unit market share leader for SSL VPN appliances, according to
 the Infonetics Research report "Network Security Appliances and Software",
 Q106 to 4Q06.
     "The Aventail acquisition is an important step in our growth strategy.
 SonicWALL is number one in SSL VPN unit share worldwide, and this
 acquisition will help grow our revenue share. We will compete more
 effectively in the remote access space, building on complementary elements
 in our two organizations, and offer new solutions that enhance our
 relevance for today's dynamic enterprise," said Matthew Medeiros, president
 and chief executive officer at SonicWALL.
     "SonicWALL's vision of delivering practical, value innovation IT
 solutions clearly resonates with mid-tier and enterprise businesses. Our
 ease of doing business along with our commitment to support and the
 addition of Aventail's capabilities significantly advances our ability to
 serve the evolving needs of these critical segments. We will continue our
 investment in leadership across all price points of the SSL VPN space."
     "This is an exciting move for Aventail, and we look forward to serving
 an expanding customer base even more effectively as a result of the
 acquisition," said Evan Kaplan, president and chief executive officer at
 Aventail. "SonicWALL has a strong history of innovation and a successful
 go-to-market strategy through its worldwide channel, which offers a wide
 variety of products relevant to Aventail's customers and channel partners.
 Our combined product sets and expertise offer great potential for future
 cross-development and growth."
     An acknowledged leader in the small to mid-sized IT security market,
 SonicWALL continues to expand its range with more sophisticated solutions
 for distributed enterprises and large networks. Its enterprise offerings
 include products such as central management software, Email Security 6000
 and 8000 solutions, PRO Series Unified Threat Management appliances and
 newly-announced E7500 firewall for larger organizations. With the addition
 of Aventail's remote access technology for mid-tier and enterprise,
 SonicWALL expands its portfolio of higher end solutions that address the
 growing need for flexible and easily managed network security, access and
 control.
     SonicWALL will continue to rely on its worldwide channel network and
 two-tier distribution model. SonicWALL plans not only to sustain but also
 grow the current feature sets of both companies' products and will
 additionally pursue opportunities for cross pollination of technologies
 across both product lines as well as synergistic opportunities to enter new
 and separate product areas.
     Conference Call and Webcast
     A conference call and webcast to discuss the acquisition of Aventail
 will take place at 8.00 a.m. Pacific (11.00 a.m. Eastern) on Wednesday,
 June 13, 2007. SonicWALL President and CEO Matt Medeiros and SonicWALL CFO
 Rob Selvi will host the call. A webcast of the live call can be accessed at
 http://www.sonicwall.com/us/company/2518.html. To access the live call by
 telephone, dial (800) 252 5474 (domestic) or (706) 643 1538
 (international), and provide conference call ID #1086720. A replay of the
 call will be available beginning at approximately 11.00 a.m. Pacific (2.00
 p.m. Eastern) on June 13, 2007 by dialing (800) 642 1687 (domestic) or
 (706) 645 9291 (international); ID # 1086720. The telephone replay will be
 available through June 20, 2007 at 11.59 p.m. Eastern, and the web site
 replay will be available for 30 days.
     About SonicWALL, Inc.
     Founded in 1991, SonicWALL, Inc. designs, develops and manufactures
 comprehensive network security, email security, secure remote access, and
 continuous data protection solutions. SonicWALL is headquartered in
 Sunnyvale, California and trades on the Nasdaq under the symbol SNWL. For
 more information, contact SonicWALL at +1 (408) 745-9600 or visit the
 company web site at http://www.sonicwall.com/.
     Safe Harbor Regarding Forward-Looking Statements
     Certain statements in this press release are "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform
 Act of 1995. The forward-looking statements include but are not limited to
 statements regarding various benefits associated with our acquisition of
 Aventail, the impact of the transaction on second quarter 2007 financial
 results, the anticipated timeline for closing the acquisition, the
 expectation of revenue share growth in the SSL-VPN market, anticipated
 investment in the SSL-VPN market and the expansion of the portfolio of
 SonicWALL solution offerings. These forward-looking statements are based on
 the opinions and estimates of management at the time the statements are
 made and are subject to certain risks and uncertainties that could cause
 actual results to differ materially from those anticipated in the
 forward-looking statements. In addition, please see the "Risk Factors"
 described in our Securities and Exchange Commission filings, including our
 Annual Report on Form 10-K for the year ended December 31, 2005, for a more
 detailed description of the risks facing our business. All forward-looking
 statements included in this release are based upon information available to
 SonicWALL as of the date of the release, and we assume no obligation to
 update any such forward-looking statement. All forward-looking statements
 included in this release are based upon information available to SonicWALL
 as of the date of the release, and we assume no obligation to update any
 such forward-looking statement.
     NOTE: SonicWALL is a registered trademark of SonicWALL, Inc. Aventail,
 Aventail ST, Aventail Smart Access, Aventail Smart Tunneling, Aventail EPC,
 Aventail OnDemand, Aventail Connect, Aventail EX-2500, EX-1600, Aventail
 EX-750, and their respective logos are trademarks, registered trademarks,
 or service marks of Aventail Corporation.
     Other product and company names mentioned herein may be trademarks
 and/or registered trademarks of their respective companies.
 
 

SOURCE SonicWALL, Inc.
    SUNNYVALE, Calif., June 12 /PRNewswire-FirstCall/ -- SonicWALL, Inc.
 (Nasdaq:   SNWL), a leading provider of IT security and data backup and
 recovery solutions, today announced that it has entered into an agreement
 to acquire Aventail Corporation, a Seattle-based, privately-held provider
 of market-leading SSL VPN remote access solutions, for approximately $25
 million in cash. The transaction is expected to close in July, 2007 and is
 subject to customary conditions. SonicWALL expects that there will be no
 impact from the transaction to its financial performance in the second
 quarter of 2007 and reaffirms its revenue guidance of $45-$47 million.
     Improving secure remote access is among the top priorities of today's
 distributed, global enterprises. Consensus from industry analysts indicates
 that 85% or more of the data that IT managers seek to protect originates
 outside the corporate network. To address this growing need, Chief Security
 Officers are seeking comprehensive remote access solution sets and products
 combining high performance with value, and capable of integration into
 multi-faceted IT environments.
     Today's move enables SonicWALL to better meet the needs of a broader
 set of customers by combining the two companies' complementary SSL VPN
 offerings. Aventail is recognized as a leader and visionary for its
 higher-end SSL VPN enterprise control deployments. With its suite of
 appliances designed for small and mid-sized organizations, SonicWALL has
 become the unit market share leader for SSL VPN appliances, according to
 the Infonetics Research report "Network Security Appliances and Software",
 Q106 to 4Q06.
     "The Aventail acquisition is an important step in our growth strategy.
 SonicWALL is number one in SSL VPN unit share worldwide, and this
 acquisition will help grow our revenue share. We will compete more
 effectively in the remote access space, building on complementary elements
 in our two organizations, and offer new solutions that enhance our
 relevance for today's dynamic enterprise," said Matthew Medeiros, president
 and chief executive officer at SonicWALL.
     "SonicWALL's vision of delivering practical, value innovation IT
 solutions clearly resonates with mid-tier and enterprise businesses. Our
 ease of doing business along with our commitment to support and the
 addition of Aventail's capabilities significantly advances our ability to
 serve the evolving needs of these critical segments. We will continue our
 investment in leadership across all price points of the SSL VPN space."
     "This is an exciting move for Aventail, and we look forward to serving
 an expanding customer base even more effectively as a result of the
 acquisition," said Evan Kaplan, president and chief executive officer at
 Aventail. "SonicWALL has a strong history of innovation and a successful
 go-to-market strategy through its worldwide channel, which offers a wide
 variety of products relevant to Aventail's customers and channel partners.
 Our combined product sets and expertise offer great potential for future
 cross-development and growth."
     An acknowledged leader in the small to mid-sized IT security market,
 SonicWALL continues to expand its range with more sophisticated solutions
 for distributed enterprises and large networks. Its enterprise offerings
 include products such as central management software, Email Security 6000
 and 8000 solutions, PRO Series Unified Threat Management appliances and
 newly-announced E7500 firewall for larger organizations. With the addition
 of Aventail's remote access technology for mid-tier and enterprise,
 SonicWALL expands its portfolio of higher end solutions that address the
 growing need for flexible and easily managed network security, access and
 control.
     SonicWALL will continue to rely on its worldwide channel network and
 two-tier distribution model. SonicWALL plans not only to sustain but also
 grow the current feature sets of both companies' products and will
 additionally pursue opportunities for cross pollination of technologies
 across both product lines as well as synergistic opportunities to enter new
 and separate product areas.
     Conference Call and Webcast
     A conference call and webcast to discuss the acquisition of Aventail
 will take place at 8.00 a.m. Pacific (11.00 a.m. Eastern) on Wednesday,
 June 13, 2007. SonicWALL President and CEO Matt Medeiros and SonicWALL CFO
 Rob Selvi will host the call. A webcast of the live call can be accessed at
 http://www.sonicwall.com/us/company/2518.html. To access the live call by
 telephone, dial (800) 252 5474 (domestic) or (706) 643 1538
 (international), and provide conference call ID #1086720. A replay of the
 call will be available beginning at approximately 11.00 a.m. Pacific (2.00
 p.m. Eastern) on June 13, 2007 by dialing (800) 642 1687 (domestic) or
 (706) 645 9291 (international); ID # 1086720. The telephone replay will be
 available through June 20, 2007 at 11.59 p.m. Eastern, and the web site
 replay will be available for 30 days.
     About SonicWALL, Inc.
     Founded in 1991, SonicWALL, Inc. designs, develops and manufactures
 comprehensive network security, email security, secure remote access, and
 continuous data protection solutions. SonicWALL is headquartered in
 Sunnyvale, California and trades on the Nasdaq under the symbol SNWL. For
 more information, contact SonicWALL at +1 (408) 745-9600 or visit the
 company web site at http://www.sonicwall.com/.
     Safe Harbor Regarding Forward-Looking Statements
     Certain statements in this press release are "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform
 Act of 1995. The forward-looking statements include but are not limited to
 statements regarding various benefits associated with our acquisition of
 Aventail, the impact of the transaction on second quarter 2007 financial
 results, the anticipated timeline for closing the acquisition, the
 expectation of revenue share growth in the SSL-VPN market, anticipated
 investment in the SSL-VPN market and the expansion of the portfolio of
 SonicWALL solution offerings. These forward-looking statements are based on
 the opinions and estimates of management at the time the statements are
 made and are subject to certain risks and uncertainties that could cause
 actual results to differ materially from those anticipated in the
 forward-looking statements. In addition, please see the "Risk Factors"
 described in our Securities and Exchange Commission filings, including our
 Annual Report on Form 10-K for the year ended December 31, 2005, for a more
 detailed description of the risks facing our business. All forward-looking
 statements included in this release are based upon information available to
 SonicWALL as of the date of the release, and we assume no obligation to
 update any such forward-looking statement. All forward-looking statements
 included in this release are based upon information available to SonicWALL
 as of the date of the release, and we assume no obligation to update any
 such forward-looking statement.
     NOTE: SonicWALL is a registered trademark of SonicWALL, Inc. Aventail,
 Aventail ST, Aventail Smart Access, Aventail Smart Tunneling, Aventail EPC,
 Aventail OnDemand, Aventail Connect, Aventail EX-2500, EX-1600, Aventail
 EX-750, and their respective logos are trademarks, registered trademarks,
 or service marks of Aventail Corporation.
     Other product and company names mentioned herein may be trademarks
 and/or registered trademarks of their respective companies.
 
 SOURCE SonicWALL, Inc.