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.

Check Also

KBR

KBR Wins Potential $93M Navy Combat Integration System Support IDIQ

KBR’s (NYSE: KBR) government services business has won a potential five-year, $92.6M contract to engineer and produce datalink systems and associated platforms for the U.S. Navy’s combat operations.

DLA

DLA Awards Logistics Modernization Integration Support IDIQs to Advantaged Solutions, United Defense International

Advantaged Solutions and United Defense International have each received a potential five-year, $265M contract from the Defense Logistics Agency for logistics modernization integration support.