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Certicom shares soar with Motorola deal

CRAIG WONG, CP   2004-01-08 03:39:37  

TORONTO -- Shares in Certicom Corp. soared nearly 35 per cent yesterday after the wireless security firm announced cellphone giant Motorola is embedding Certicom's technology into its handsets. Certicom shares (TSX:CIC) jumped 99 cents, or 34.5 per cent, to $3.86 after the companies announced Certicom's MovianVPN security technology will be in Motorola's A760 Smartphone.

The deal marks "the first time the world's No. 2 handset maker has embedded virtual private-network security into its handsets," Certicom said.

"We're pleased to be expanding our relationship with Certicom," said Samuel Li, a Motorola executive with the SmartPhone product group.

"The security built into our new phone is transparent to users, yet it enables them to access critical information and applications on their enterprise networks without concern for security risks."

The new Motorola phone first will be available in Asia.

The technology will allow business users to read their e-mails, browse intranets and access databases within a corporate network that would otherwise be unavailable.

"It creates a secure tunnel from your phone, in this particular case to a VPN gateway . . . so all traffic that flows from the enterprise network to your phone is secure, confidential and the data cannot be altered -- and it's also authenticated," Certicom spokesperson Brendan Ziolo said.

Shares in Certicom more than doubled in October last year after the firm announced it had sold the non-exclusive licensing rights to its encryption technology to the U.S. National Security Agency for $25 million US.

That deal, the biggest contract ever for Certicom, boosted the wireless firm's second-quarter earnings to $22.3 million US.

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