Gemalto Inks $890M Cash Deal to Buy SafeNet

CybersecurityOnline security firm Gemalto has agreed to acquire enterprise data protection technology provider SafeNet from Vector Capital for $890 million in cash.

Gemalto expects the SafeNet purchase to close in the fourth quarter of this year and will finance the deal with cash on hand and money under existing credit facilities, Gemalto said Friday.

The companies aim to integrate their platform and service offerings to help secure an organization’s software, network and data, according to Gemalto.

Belcamp, Maryland-based SafeNet maintains a portfolio of cryptographic key management systems, authentication servers, software license management and monetization products.

That company works with more than 25, 000 customers in both the government and private sectors globally and posted $337 million in revenues last year.

Gemalto says it expects to surpass its 2017 earnings target of $800 million by about 10 percent as a result of the acquisition.

You may also be interested in...

William Conley CTO Mercury Systems

Mercury Systems’ William Conley Joins NDIA Central Georgia Chapter Board

William Conley, chief technology officer of Mercury Systems (Nasdaq: MRCY), has been named to the board of directors for the National Defense Industrial Association's Central Georgia chapter. He will serve as a board member for a term of up to six years, Mercury Systems said Thursday.

Cloud IT

DHS Posts $3B Data Center, Cloud Solicitation

The Department of Homeland Security has issued a request for proposals for its indefinite-delivery/indefinite-quantity Data Center and Cloud Optimization contract worth potentially $3.35B over 10 years.