SafeNet acquires nCipher

Published 8 February 2006

Belcamp, Maryland-based information security giant SafeNet (NASDAQ: SFNT) is acquiring Cambridge, U.K.-based nCipher. The Offer will be 300 pence in cash for each nCipher share, valuing the entire issued and to-be-issued ordinary share capital at approximately “86 million, or approximately $150 million. nCipher’s latest publicly reported net cash was approximately “39 million, or approximately $67 million.

nCipher will add important capabilities to the already-capable SafeNet, strengthening the company’s position in the IT security market. Specifically, nCipher technology will enhance SafeNet offerings in data protection, payments systems, enterprise key management, and identity management, bringing SafeNet closer to its announced goal of providing end-to-end security solutions to customers.

-read more in this news release; read more about nCipher products at company Web site