___Platinum Buys Security Vendor for $500 Million___ Platinum Technology Inc., a company built upon a long string of acquisitions, returned to its old ways yesterday when it bought security vendor Memco Software for $500 million. The tools and systems management vendor will exchange stock worth $26 per share for the Israeli company. Platinum intends to include Memco's security capabilities, which include access control, single-password logons, and intrusion detection, with its ProVision management framework. That will give customers a single point for all administration and security functions, Platinum officials say. "We saw that if we were going to be a significant player in the systems-management space, we had to understand security," says Michael Matthews, Platinum's executive VP of marketing. Memco will flesh out Platinum's security development and support services with 200 security experts. The security vendor will also broaden Platinum's reach with more than 200 customer sites, including Charles Schwab, GTE, Motorola, MCI, and Guardian Life. Platinum already had a relationship with Memco, reselling its security software, which has been integrated with ProVision. Platinum chairman Flip Filipowski is a director on Memco's board, but abstained from discussions and voting on the purchase. -- Jeff Sweat -o- Subscribe: mail majordomoat_private with "subscribe isn". Today's ISN Sponsor: New Dimensions International [www.newdimensions.net]
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