AEP to acquire V-One

AEP Networks Inc, a networking and security company, is planning to buy V-One Corp., an Internet security firm. Terms of the deal were not disclosed.

The acquisition is expected to close in 30 days, officials with Somerset, N.J.-based AEP said today.

V-One's core customers are government agencies, including the departments of Defense, Homeland Security, Justice and Treasury, as well as companies in the financial services, healthcare, transportation and high-tech sectors.

The business will now become the AEP Networks Government Solutions Group. Margaret E. Grayson, formerly V-One's president and CEO, will serve as executive vice president and general manager of the new Government Solutions Group, headquartered in Rockville , Md.

"This strategic acquisition gives AEP Networks, virtually overnight, critical mass in the important U.S. government market for secure networking infrastructure," said Pat Donnellan, CEO of AEP Networks.

The new Government Solutions Group becomes AEP Networks' third division, joining the Secure Networking and Secure Application Access units.