Online 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.
