Gemalto, which specializes in digital security, agreed to acquire SafeNet from Vector Capital for US$890 million in cash.
SafeNet, which is based in Belcamp, Maryland, provides an extensive portfolio of data protection solutions including HSM advanced cryptographic key management systems, encryption technologies for civilian applications, authentication servers and authentication as a service, as well as sophisticated software license management and monetization solutions. The company estimates its technology protects over 80% of the world’s intra-bank fund transfers. Its 1,500+ employees, including 550 cryptographic engineers, serve more than 25,000 customers, both corporations and government agencies, in over 100 countries. In 2013, SafeNet recorded revenues of US$337 million and profit from operations of US$35 million and expects revenues of US$370 million and profit from operations of US$51 million for 2014.
Gemalto develops secure embedded software for personal mobile services, payment security, authenticated Cloud access, identity and privacy protection, etc.
- Gemalto was formed in June 2006 through the combination of Axalto Holding N.V. and Gemplus International S.A.. Axalto was an IPO spin-off of Schlumberger in 2004. Schlumberger began making making SIM cards in the early 1990s with the arrival of GSM. It first began making secure chip cards in 1979.