Gemalto, a digital security firm, has signed a definitive agreement to acquire 100% share capital of SafeNet, a data protection and software monetization firm, from Vector Capital for $890m.
The takeover will enable Gemalto to integrate SafeNet’s technologies, expertise and services for securing complete infrastructure, such as network, users, data, and software, at the core and at the edge.
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Upon completion of the acquisition, SafeNet will significantly reinforce Gemalto’s Identity and Access Management business.
The acquired business will operate as a part of Gemalto’s Payment & Identity segment, and its Platforms & Services activity that account for 1.32bn and 715m of the 2013 pro forma revenue, respectively.
Gemalto will partially self-finance the transaction with $440m from available cash, while $450m will be drawn from existing long-term credit facilities.
Gemalto CEO Olivier Piou said: "The opportunity to acquire SafeNet has come at exactly the right time, as we have just entered into our new multi-year development plan and there is a perfect fit between Gemalto’s "security at the edge" and SafeNet’s "security at the core" capabilities.
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By GlobalData"This will enable us to further accelerate the deployment of strong security solutions in the Enterprise sector, and expand our technologies and growth opportunities in protecting online access."
Maryland-based SafeNet operates in 27 nations.
