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SonicWall Inc. acquires Ignyte in transaction worth $8.6 million

SUNNYVALE, Calif. — SonicWall Inc., a maker of Internet security products, has acquired Ignyte Technology Inc., a privately held Internet security consulting services company based in Santa Clara, Calif.

SonicWall acquired Ignyte in a tax-free reorganization, which closed March 6. The value of the transaction was about $8.6 million, which was composed of 735,000 shares of common stock and options and $700,000 of cash.

Founded in 1998, Ignyte Technology has approximately 40 employees, the majority of whom are technical experts in Internet security and network infrastructure technologies. In addition to doubling SonicWall's technical support resources, Ignyte expands SonicWall's pre- and post-sales engineering staff by adding 25 people with knowledge of Internet security and other networking technologies.

SonicWall, headquartered in Sunnyvale, Calif., in October bought Murray-based Phobos Corp. for $268 million. Phobos had launched a product line that makes Internet servers run faster by increasing efficiency and that handles encryption needs for secure online transactions.