What You Should Know About SafeNet
In 1983, in a Timonium, Maryland basement, two engineers founded Industrial Resource Engineering (IRE.) IRE made a name for itself, selling enterprise network security solutions, using encryption technology to protect the public and private networks of financial institutions before expanding into the federal government sector.
By leveraging key investor funding and customer wins, IRE became a fast-rising star in the information security industry. Then, in 2000, IRE was officially renamed SafeNet after its award-winning VPN product line.
SafeNet strategically expanded its interests in the security information field through acquisitions of Securealink, Cylink Corporation, Raqia Networks, Inc., and SSH. In 2004 SafeNet merged with Rainbow Technologies, which had recently acquired Chrysalis-ITS and Mykotronx. As a result of these strategic acquisitions, SafeNet became the world’s seventh largest information security company and tripled its revenue. Continuing its interest in technological growth, SafeNet acquired a number of other complementary companies including Datakey, DMDsecure and Eracom Technologies during the next few years. The resources of these companies improved SafeNet’s already broad range of interests. In 2007, SafeNet was acquired by Vector Capital.
In 2008, SafeNet acquired Ingrian Technologies. Ingrian's DataSecure family of products complements SafeNet's security solutions to ensure that enterprise and government organizations are compliant and limit liabilities. With this acquisition, SafeNet became the first vendor to offer a comprehensive Enterprise Data Protection (EDP) Solution Suite that secures sensitive data across devices, applications, networks, and databases.
In March 2009, Aladdin Knowledge Systems acquired by Vector Capital and placed under common management with SafeNet. In April 2010 Aladdin Knowledge Systems Ltd. and its subsidiaries became wholly-owned subsidiaries of SafeNet Inc, bringing together the first comprehensive set of critical solutions in rights management and data protection. The company is now the 5th largest vendor in the security market and 3rd largest provider of information security solutions in the world.
In 2012, SafeNet acquires Cryptocard, enhancing its authentication portfolio with one of the most advanced authentication-as-a-service offerings in the marketplace. SafeNet divestiture of Government Solutions Division to Raytheon.