The acquisition enhances SafeNet's Borderless Security Offering, with the addition of full disk and file encryption, and strengthens the company's business in the financial services industry by opening opportunities in the Electronic Funds Transfer (EFT), credit card and ATM markets, new segments of the company's already established financial services offering.
According to the plan previously announced, a subsidiary of SafeNet, Inc., SafeNet Technologies B.V., acquired all the equity interest of Eracom Technologies for a cash consideration of $25 million. The acquisition is expected to be accretive within one quarter. The Eracom solutions will be integrated into SafeNet's Borderless Business Unit, reporting to Chris Fedde, SVP Enterprise Division.
About SafeNet, Inc.
SafeNet is a global leader in information security. Founded more than 20 years ago, the company provides complete security utilizing its encryption technologies to protect communications, intellectual property and digital identities, and offers a full spectrum of products including hardware, software, and chips. ARM, Bank of America, NetGear, the Departments of Defense and Homeland Security, Adobe, Samsung, Texas Instruments, the U.S. Internal Revenue Service and scores of other customers entrust their security needs to SafeNet. For more information, visit www.safenet-inc.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this release, which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. Important factors that could cause actual results to differ materially are included but are not limited to those listed in Eracom technologies AG and SafeNet's periodic reports and registration statements filed with the Securities and Exchange Commission and neither company assumes any obligation to update information concerning its expectations.
Editor's Note: SafeNet is a registered trademark of SafeNet, Inc. All other trademarks are the property of their respective owners.
SafeNet, Inc. Media Contact: Donna St.Germain, 443-327-1454 Email Contact www.safenet-inc.com or Investor Relations: Gregg Lampf, 443-327-1532 Email Contact www.safenet-inc.com