On February 12, 2001, e-security company RSA Security Inc. acquired Xcert International, Inc., a privately held company that develops and delivers digital certificate-based products for securing e-business transactions. The acquisition was done by way of merger of Xcert International with Walnut Acquisition Corp., a wholly owned subsidiary of RSA Security. The purchase price for the acquisition is approximately US$67.5 million in cash, plus acquisition costs.
RSA Security was represented by Hal J. Leibowitz, Jeffrey A. Hermanson, Ilran Kim and Daniel M. Esrick of Hale and Dorr LLP. Acting as Canadian counsel to RSA Security was Stikeman Elliott, with a team of Peter Castiel, Neville McClure, Hélène Bussières and Claire Zikovsky. Venture Law Group represented Xcert International with a team of Steve Tonsfeldt, Kristen Kercher and Greg Heibel. Acting as Canadian counsel to Xcert Software Inc., a wholly owned subsidiary of Xcert International, was David J. Cowan from Clark, Wilson. David R. Lee and Fred Hasani of White & Lee, LLP were special counsel to Xcert International.