Security Dynamics Inc. and RSA Data Security Inc. on Monday said they have combined to form a single company.
Redwood City, Calif.-based RSA has been operating as a wholly owned subsidiary of Security Dynamics since 1996, when Security Dynamics acquired RSA.
In recent months, company executives had hinted at a move to a combined entity, which will be known as RSA Security Inc. and based here.
Security Dynamics' Chief Executive Chuck Stuckey will be chairman and chief executive of the new company, and RSA Chief Executive Jim Bidzos has been named vice chairman.
RSA Security's brands include BSAFE data-encryption products, SecurID user-authentication products and a newer line of public key infrastructure offerings called Keon.
Subsequent to the name change, RSA expects to incur one-time charges in the third and fourth quarters, in the amount of $6 million per quarter. RSA Security's stock will begin trading on the Nasdaq Tuesday under the RSAS ticker symbol.
Earlier this year, RSA Data Security moved to open an Australian unit to sell full-strength encryption products to worldwide customers.
Bidzos has been a visible figure in the fight to relax federal encryption export laws. RSA Data Security and other companies that develop encryption technology have complained that they are losing business to foreign companies that are able to export stronger encryption products.
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