Information security giant SafeNet completes acquisition of encryption specialist Eracom

Published 2 December 2005

Belcamp, Maryland-based information security giant SafeNet (NASDAQ: SFNT) (company’s motto: “The Foundation of Information Security”) has completed the acquisition of German encryption specialist Eracom Technologies, the developer of Hardware Security Modules (HSMs). The acquisition enhances SafeNet’s offering, with the addition of full disk and file encryption, and strengthens the company’s already-strong business in the financial services industry by opening opportunities in the Electronic Funds Transfer (EFT), credit card, and ATM markets. SafeNet Technologies B.V., a subsidiary of SafeNet, Inc., 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.

-read more in this SafeNet news release