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Fenwick & West Represents Cyota in Acquisition by RSA Systems

December 05, 2005

Fenwick & West represented Cyota, Inc. in its announced acquisition by RSA Security Inc. (NASDAQ: RSAS). Cyota, a privately-held company based in New York and Israel, delivers online security and anti-fraud solutions to thousands of financial institutions worldwide. RSA Security is purchasing Cyota for approximately $145 million, comprised of up to $136 million in cash for all of the outstanding capital stock of Cyota, $5.5 million in cash to fund a three-year retention pool and at least $3.5 million for the assumption of all outstanding Cyota stock options. The transaction is subject to regulatory approvals and closing conditions, and is expected to close within 30 days.

The Fenwick & West transaction team consisted of corporate attorneys Cynthia Hess and Joshua Sun; securities partner Horace Nash; executive compensation and employee benefits attorneys Blake Martell, William Herochik and Mona Clee; and tax attorneys Ron Schrotenboer, Barton Bassett, Neil Gordon and Andrew Kim.