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Watchfire Secures Sanctum, Eyes IPO

Watchfire Corp., a Web application management specialist, is acquiring the products and patents of Sanctum Inc. as part of a grander plan to move toward an IPO, officials said today.

The deal, Watchfire's fourth in three years, fills out its product line and brings the Waltham, Mass. company much closer to its goal of becoming public, CTO and founder Michael Weider told NDCF. He says the company's products have focused on monitoring and managing "quality issues" of Web applications but so far had not done much with security. Sanctum makes Web application security and monitoring tools.

"We are evaluating our prospects of going public," said Weider. "This acquisition gives us the needed scale to get closer to doing that."

No paperwork has been filed yet.

Watchfire's previous buyouts included parts of the Center for Applied Special Technology Inc. in mid 2002, all of Buystream Inc. in January 2004, and parts of Gomez Inc. in March. Watchfire's long-term plans include more compliance technology, Weider said.

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