Network Associates sold its PGP desktop and wireless encryption product lines to newly formed PGP Corp. for an undisclosed amount, the companies said.
Under the agreement announced Monday, PGP Corp. acquired PGPmail, PGPfile, PGPdisk, PGPwireless, PGPadmin and PGPkeyserver encryption software products for Win32 and Macintosh, PGPsdk encryption software development kit, and the PGP corporate desktop product for Macintosh. The deal was completed July 26, PGP Corp. said.
Network Associates will retain products that use PGPsdk encryption development software, including McAfee E-Business Server, McAfee Desktop Firewall and McAfee VPN Client.
Network Associates, based here, said last October that it was looking for a buyer for the PGP desktop and wireless encryption products in order to focus on key product lines.
PGP Corp., Palo Alto, Calif., raised $14 million from Doll Capital Management and Venrock Associates. The company was created in June by executives from Vantive, PeopleSoft, Symantec, Counterpane Internet Security and former PGP executives, developers and patent holders.
Network Associates plans to support the PGP products until Oct. 26, when PGP Corp. is scheduled to take over that function. Customers will be transitioned to PGP Corp.
PGP Corp. said it will develop the PGP technology, focusing on simplifying its use and deployment. The company also announced new PGP products for Windows and for Macintosh slated to ship in November 2002.