Eutronsec purchase extends reach of Aladdin into Europe
Aladdin Knowledge Systems (published 25/06/2008)
Aladdin has acquired authentication product provider Eutronsec to enable wider scope for marketing products in Europe
Aladdin Knowledge Systems has signed a definitive agreement to acquire Eutronsec, a provider of software protection and authentication products, for approximately Euro10.0 million in cash, including acquisition related expenses.
“The acquisition of Eutronsec is focused on further expanding Aladdin’s market share and presence in the European region and extending our global position as an industry leader in the areas of software protection and authentication,' said Yanki Margalit, Chief Executive Officer at Aladdin Knowledge Systems. 'Eutronsec’s innovative products are designed to guard against software piracy as well as protect electronic intellectual property and are a complement to Aladdin’s award-winning portfolio of IT security products. We look forward to providing Eutronsec’s customers throughout Europe with the high-quality service and support they have come to expect with the added benefit of our worldwide security expertise, research and development resources as well as the strong financial backing of a publicly-traded company.”
Eutronsec is a significant player in the Italian software security and authentication market, with full year 2007 annual revenue relevant to Aladdin’s primary business just under €5 million. The closing of the transaction is subject to customary closing conditions and is expected to be consummated by September 2008. Pending a successful completion of the transaction, the acquisition is anticipated to be accretive to Aladdin on a diluted earnings per share basis during the first half of 2009.
