Security Dynamics Technologies Inc. commences initial public offering

Business Wire, Dec 14, 1994

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 14, 1994--Security Dynamics Technologies, Inc. (SDI) today announced the commencement of an initial public offering of 2.2 million shares of its common stock at a price of $16.00 per share through underwriters led by Alex. Brown & Sons Inc. and Robertson, Stephens & Co.

Of the shares being offered, 1.5 million are being sold by the company and 700,000 shares are being sold by certain selling stockholders. The common stock will be traded on the Nasdaq National Market under the symbol "SDTI." The company plans to use the net proceeds from the offering for general corporate purposes.

SDI designs, develops, markets and supports a family of security products used to protect and manage access to computer-based information resources. SDI's family of products employs a patent-protected combination of super smart card technology (SecurID Card) and software or hardware access control products (ACE/Server and ACM) to authenticate the identity of users accessing networked or stand-alone computing resources.

The company's customers include Fortune 500 companies and financial institutions as well as academic institutions, research laboratories, hospitals and federal, state and foreign government organizations.

Copies of the final prospectus may be obtained from Alex. Brown & Sons Inc. at 410/727-1700 or Robertson, Stephens & Co. at 415/781-9700. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be a sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities law of any such state.

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Note to Editors: SecurID is a registered trademark and ACE/Server is a trademark of Security Dynamics Technologies Inc.

CONTACT: Security Dynamics, Cambridge

Charles R. Stuckey, 617/547-7820