Chantilly-Based Intersections Buys Online Security Firm

From the Associated Press
Financial information services provider Intersections Inc. said today it agreed to buy online security company Net Enforcers for $14 million cash.

Net Enforcers provides corporate identity theft protection services including online auction monitoring and enforcement, intellectual property monitoring and other services. Its products are designed to help companies prevent copyright and trademark abuse, counterfeit product and service sales and "other business risks of the online world," Intersections said.

The company may make additional cash earnout payments of up to $3.5 million. Intersections plans to pay for the deal using advances under its credit facility.

The transaction is expected to close in the fourth quarter. Net Enforcers founder and Chief Executive Joseph Loomis will stay on as head of the company.

By Mike Shepard  |  November 12, 2007; 10:55 AM ET  | Category:  Information Technology
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