International digital security vendor Gemalto has let the ink dry on its acquisition of SafeNet, a specialist in data protection.
With skills in data encryption, crypto management, and multi-factor authentication, it is perhaps no surprise that SafeNet will be integrated with Gemalto’s “Payment and Identity” segment.
“The acquisition of SafeNet enables us to further accelerate the deployment of strong security solutions in the Enterprise and Cloud security sectors. It makes our joint portfolio of technologies and sales reach unrivaled in the digital security market”, said Olivier Piou, Gemalto CEO.
“I warmly welcome the new teams joining Gemalto and we look forward to working closely together.”
Partners in crime (prevention)
The acquisition was first announced back in August for the princely sum of $890 million, financed by available cash and existing credit facilities.
The deal is the latest in a string of mergers across the security landscape. The rise has been fuelled by a stream of ever-evolving threats, as well as cyber-defence’s rising status as a basic “essential” – the fridges and duvets in the business world’s putative semi, if you will.
In a sense then the security space sees acquisitions as a means to not so much buy revenue, as technology itself.
For example, almost exactly a year ago VMware splashed $1.54 billion on AirWatch in the hopes the company would help it tap into the growing demand for better protection against mobile malware.
Gemalto, meanwhile, boasts more than 12,000 employees operating in 44 countries, providing security services across multiple sectors from personal mobile protection to eGovernment efficiency.