Aladdin Knowledge Systems and Secure Computing Corporation announced a
definitive agreement for Aladdin to acquire the Secure SafeWord product line for
approximately
$65 million in cash, including acquisition costs.
To continue SafeWord's worldwide growth, Aladdin plans to fully engage and
support Secure Computing's subÂstanÂtial, vibrant network of current SafeWord
channel partners. Secure SafeWord added $32 million to Secure Computing's
revenue in 2007.
Speaking about the acquisition, Yanki Margalit, Chairman and CEO, Aladdin
Knowledge Systems said, “The incorporation of SafeWord into the Aladdin set of
eToken authentication solutions will benefit customers by providing them a
broader range of solutions for their security needs.”
“The sale of Secure SafeWord enables Secure Computing to redouble its focus
on its areas of greatest strength and expertise-delivering comprehensive and
integrated web, mail and network gateway appliances. The company believes the
vast majority of customers and channel partners will both support and celebrate
the company's renewed focus,” said Daniel Ryan, President and CEO, Secure
Computing.
Secure Computing's SafeWord business unit and all of its employees, including
the SafeWord research and development group and SafeWord sales team, are
expected to be incorporated into Aladdin Knowledge Systems.
The transaction is expected to be consumÂmated in August or September 2008.