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Eutronsec acquisition completed
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Aladdin Knowledge Systems
: 16 September, 2008 (Company News) |
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Acquisition of Eutronsec in Italy completed by Aladdin cementing the software protection company's presence in Europe |
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Aladdin Knowledge Systems has completed the acquisition, previously announced on June 25, 2008, of Eutronsec, a provider of software protection and authentication products, for approximately Euro 10.0 million in cash, including acquisition related expenses. The acquisition is anticipated to be accretive to Aladdin on a diluted earnings per share GAAP basis during the first half of 2009.
"We are pleased to complete our acquisition of Eutronsec and welcome Eutronsec's talented employees to Aladdin," said Yanki Margalit, Chairman and CEO of Aladdin Knowledge Systems. "With Eutronsec's headquarters in Italy, this acquisition extends Aladdin's worldwide position as an industry leader in the areas of software protection and authentication, servicing fast-growing European markets. Our customers will benefit from the complementary addition of Eutronsec's innovative products that guard against software piracy and protect electronic intellectual property - adding to Aladdin's award-winning portfolio of IT security products. Additionally, we are excited to offer Eutronsec customers our worldwide security expertise while continuing to serve them with the same high-quality service and support they have come to expect from Eutronsec.
"The successful acquisition of Eutronsec, as well as our recently completed acquisition of SafeWord, are two clear examples of Aladdin's disciplined strategy to invest in and acquire complementary assets that enhance value for our customers and shareholders. Our Board and management team will continue to complement Aladdin's organic growth by capitalizing on opportunities to further strengthen our IT security offerings, contribute to our market share and sales and increase our global brand recognition," concluded Margalit.
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