SafeNet to Acquire Ingrian Networks, Inc.
Acquisition to Strengthen SafeNet's Enterprise Data Protection Business Integrating Solutions for Data Centers and Client Devices
February 28, 2008
SafeNet, Inc., a global leader in information security, today announced that it has signed a definitive agreement to acquire Ingrian Networks, Inc., a leading provider of Enterprise Data Protection and privacy solutions. This transaction is expected to close in three to four weeks.
"This acquisition enables SafeNet to offer enterprise data security for database and server centers, and to become the first Enterprise Data Protection Solutions vendor to provide comprehensive offerings for the data centers and client devices," said Chris Fedde, SafeNet's President and Chief Operating Officer. "Ingrian complements SafeNet's solutions and allows customers already purchasing Identity and Access Management products, like Hardware Security Modules (HSM), and Disk & File Encryption solutions like Data At Rest Protection (DARP), to add more depth to their protection strategies and enhance their compliance posture."
Ingrian has been a global leader in providing enterprise encryption within the data center. The company's award-winning encryption solutions have been deployed by government agencies and some of world's most recognized corporations including Dell, Hyundai Motor and AIRMILES. Ingrian has also formed technology partnerships with a broad range of complementary market leaders, including Dell, HP, IBM, Microsoft and Oracle. They also have sales channel relationships with businesses throughout Europe and Asia .
"We are pleased to be joining SafeNet, an industry leader in information security," said Michael Howard, CEO at Ingrian. "As organizations continue to invest in encryption technologies, they are looking to expand the benefits of enterprise data protection throughout the data center and beyond the edge to mobile devices.
As the market continues to mature from one primarily driven by PCI DSS (a security standard driven by the Payment Cards Industry) to one that more broadly protects sensitive data, SafeNet and Ingrian will be uniquely positioned with a proven technology. Industry analysts are projecting that new and existing government reforms, privacy laws and company mandates to secure sensitive financial and customer records are driving a large and fast growing market. Certain analysts are recommending that organizations protect data using technology such as the database, file and mainframe encryption software provided by Ingrian. As a result, enterprises are being encouraged to encrypt all credit card numbers, Social Security numbers, bank account numbers and other information that is deemed sensitive within two to three years .
"Threat levels for electronically stored and transmitted data are increasing and it is important for information security vendors to be able to provide comprehensive Data Leak Prevention (DLP) tools that are designed to work together and close gaps that could otherwise exist in protection schemes," said Michael Suby, Director of Stratecast (a Division of Frost & Sullivan). " In this way, SafeNet's acquisition of Ingrian Networks, Inc. speaks to elements of the DLP synchronization of functionality that Stratecast believes is important for organizations to deploy. Ingrian's technologies complement SafeNet's already broad offering allowing customers to protect and manage sensitive information at rest and in motion."
SafeNet, already the leader in application encryption hardware with its HSM product line (including the recently released Luna XML) and endpoint protection with its Protect Drive and File products, will integrate the Ingrian's Data Center centric Database and File encryption products to offer a truly robust and scalable solution for the protection of Enterprise data. SafeNet will continue to work with its partners to ensure that emerging standards such as IEEE 1619 allow interoperability between vendor solutions, further protecting Enterprise investments. SafeNet also intends to enhance the product to meet the more rigorous security requirements of its government customers.
About the Transaction
SafeNet will acquire Ingrian Networks, Inc. which will become a wholly owned subsidiary of SafeNet, Inc . The transaction is contingent on the fulfillment of customary conditions, and is expected to close in three to four weeks.
Ingrian Networks, Inc. will change to the SafeNet name and most product brand names will remain. The Ingrian solutions will be combined with SafeNet's DARP product to form the Enterprise Data Protection product line, part of the SafeNet's Commercial Security Division (CSD) under the direction of CSD SVP and GM, Prakash Panjwani. Sales, sales engineering, customer service and technical support will be under the direction of Phil Saunders, SafeNet's SVP of Worldwide Sales and Customer Services.
About SafeNet, Inc.
SafeNet is a global leader in information security. Founded 25 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. UBS, Nokia, Fujitsu, Hitachi , Bank of America, Adobe, Cisco Systems, Microsoft, Samsung , Texas Instruments, the U.S. Departments of Defense and Homeland Security, the U.S. Internal Revenue Service and scores of other customers entrust their security needs to SafeNet. In 2007, SafeNet was acquired by Vector Capital, a $2 billion private equity firm specializing in the technology sector. For more information, visit www.safenet-inc.com.
Editor's Note: SafeNet is a registered trademark of SafeNet, Inc. All other trademarks are the property of their respective owners.