Home / M&A Activity / Olivier Piou: Gemalto Closes SafeNet Acquisition for Enterprise, Cloud Security Strategy

Olivier Piou: Gemalto Closes SafeNet Acquisition for Enterprise, Cloud Security Strategy

CybersecurityAmsterdam-based online security firm Gemalto has closed its estimated $890 million cash acquisition of Maryland-headquartered enterprise data protection technology maker SafeNet from Vector Capital.

Gemalto said Wednesday it will add SafeNet into the payment and identity segment and the purchase is primarily of platforms and services.

Olivier Piou, Gemalto CEO, said the company purchased SafeNet with the goal “to further accelerate the deployment of strong security solutions in the enterprise and cloud security sectors.”

Gemalto also aims to make its “joint portfolio of technologies and sales reach unrivaled in the digital security market, ” Piou added.

Gemalto announced the buy of SafeNet in August 2014 and said it expected the transaction to help exceed Gemalto’s 2017 earnings target by about 10 percent.

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