SafeNet, Inc. Reaches Agreement to Sell Government Solutions Business – Sharpens Focus on Commercial Data Protection and the Cloud
November 08, 2012
- Enters into Definitive Agreement to Sell Government Solutions Business Unit to Undisclosed Buyer
- Continued Market Leadership Position with over $350 million in Revenue following the Divestiture
- Continues to Provide Commercial Enterprises and Governments with Market-Leading Commercial Data Protection Products and Solutions
- Enables Enhanced Investment around Commercial Data Protection Solutions for the Cloud and from the Cloud
SafeNet, Inc., the global leader in data protection , today announced it has entered into a definitive agreement to sell its Government Solutions business unit to an undisclosed buyer. The transaction, which is subject to customary closing conditions, including required regulatory approvals, is expected to close by the end of 2012. Financial terms of the agreement will not be disclosed.
The divestiture is in line with SafeNet’s long-term strategy to focus on the company’s data protection solutions, protecting high-value information for enterprises, critical infrastructure providers, and international governments. SafeNet will concentrate its investment and product development in the areas of data protection and strong authentication for the data center, virtual data center, and the cloud.
SafeNet’s Government Solutions business unit is a leader in trusted and innovative mission-assurance Type 1 solutions used throughout U.S. government agencies, the Department of Defense, the intelligence community, and by systems integrators to protect the highest levels of classified information.
“We are very proud of our Government Solutions business unit’s long history of innovation and success,” stated Chris Fedde, SafeNet’s president and chief executive officer. “Over the years, SafeNet’s name has become synonymous with data protection. We have demonstrated our innovation and leadership in the data protection space through the introduction of game-changing cloud security solutions, and today’s announcement will allow us to sharpen our focus and extend our leadership in the growing market of data protection for the cloud and from the cloud.”
SafeNet’s recent product introductions include SafeNet Authentication Service, a pure cloud, strong authentication platform; ProtectV, a high-assurance solution for securing cloud and virtual infrastructure and related data; SentinelCloud, cloud-based software licensing management; and StorageSecure, the market’s only multi-gigabit storage data protection appliance. In addition, SafeNet has announced several cloud-related strategic alliances with VMware, Amazon Web Services, and NetApp.