Secure Computing to sell Secure SafeWord product line to Aladdin.
TELECOMWORLDWIRE-31 July 2008-Secure Computing to sell Secure SafeWord product line to Aladdin(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Aladdin Knowledge Systems (Nasdaq:ALDN), a provider of Software DRM, USB-based authentication and enterprise secure content management solutions, and Secure Computing Corporation (Nasdaq:SCUR), an enterprise gateway security company, announced on Wednesday (30 July) a definitive agreement for Aladdin to acquire the Secure SafeWord product line.
According to the company, the acquisition of Secure SafeWord will position Aladdin as the premier strong authentication provider, adding innovative token technology as well as market and channel presence to the existing Aladdin e-Token family of solutions. The company plans to engage and support Secure Computing's network of current SafeWord channel partners.
The product line reportedly added USD32m to Secure Computing's revenue in 2007.
Secure Computing's SafeWord business unit and all of its employees, including the research and development group and sales team, are expected to be incorporated into Aladdin Knowledge Systems.
The sale is subject to closing conditions which are contained in the asset purchase agreement entered into by the parties. The transaction is expected to be consummated in August or September 2008. The value of the transaction is estimated at approximately USD65m in cash, including acquisition costs.
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|Date:||Jul 31, 2008|
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