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Ascom plans to float subsidiary on stock market

The Berne-based telecommunications group, Ascom, plans to launch its subsidiary iT_Security - active in security systems for the Internet and Intranet - on the stock market. Ascom shares have risen over the past weeks, following rumours about the move.

This content was published on March 6, 2000 - 13:36

The Berne-based telecommunications group, Ascom, plans to launch its subsidiary iT_Security - active in security systems for the Internet and Intranet - on the stock market. Speculation about the move had pushed up the price of Ascom shares considerably over the past weeks.

A statement said that iT_Security in Zurich was one of Europe's leaders in the rapidly growing market for security solutions for the Intranet and "trusted e-business". No details were given about the conditions and timetable of the planned launch.

Ascom said that to develop the "clearly evident market potential" and to ensure market success of the company, implementation of an expansion strategy and sufficient finance were required.

The statement added that current planning included defining the procedures, conditions and timing for the optimal sequence for the stock market launch and its success.

The solutions from iT_Security support smart cards and, among other things, offer simple and secure access to applications, security for e-mail traffic, security in e-business, as well as digital signatures.

iT_Sec's customers include financial institutions in Switzerland, as well as large companies in Germany.

Ascom is active worldwide in telecommunications and service automation. With more than 10,000 employees, the group has annual revenue of around SFr3 billion.

From staff and wire reports

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