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News

SafeWord acquisition completed by Aladdin

Aladdin Knowledge Systems : 05 September, 2008  (Company News)
Transaction complete to secure SafeWord purchase from Secure Computing in $65 million dollar deal that positions Aladdin well in the strong authentication market
Aladdin Knowledge Systems has completed the acquisition previously announced on July 30, 2008, of the Secure SafeWord product line from Secure Computing Corporation for approximately $65 million in cash, including acquisition costs.

The Company today also raised guidance for the fiscal year 2008 to give effect to the completion of the SafeWord acquisition, as well as preliminary estimates of the performance of the Company's core business.

"We are pleased to have completed this exciting transaction, and we expect to realize immediate benefits from the acquisition of SafeWord," said Yanki Margalit, Chairman and CEO of Aladdin Knowledge Systems. "SafeWord adds highly reliable technology to Aladdin as well as a strong market and channel presence, enabling us to offer customers a broader range of solutions for their security needs. Additionally, we will be able to leverage SafeWord's global presence and competitive strengths to position the Company for long-term success. We welcome SafeWord's world-class employees, who join the rest of our hard working and innovative team in continuing to develop industry-leading technologies to support our global customers and enhance value for all of our stakeholders."

"Today's announcement is another important step in executing our business plan, which includes organic growth complemented by additional opportunities that further strengthen our portfolio of IT security offerings, contribute to our market share and sales, and increase Aladdin's global brand recognition," continued Mr. Margalit. "The Aladdin Board and management team are confident that continued execution of our strategy will enhance value for our shareholders."

Shlomi Yanai, Vice President of the Authentication unit, added: "SafeWord adds industry-leading one-time-password authentication products to Aladdin's suite of enterprise identity and access management solutions and contributes tremendous security knowledge and expertise to Aladdin's team of authentication experts. Combining eToken's and SafeWord's personnel, technology and partnerships positions Aladdin as a leading strong authentication provider. SafeWord brings a new level of one-time-password authentication to Aladdin's eToken brand, adding value for Aladdin's customers by advancing the technology. Aladdin also expands the options available to SafeWord customers, who now have access to the entire line of eToken devices. We are committed to continuing to serve SafeWord customers while providing seamless integration into the Aladdin family."

"As a long-time reseller of SafeWord, we are thrilled at the opportunity to expand our business with a company like Aladdin," said Gordon Shevlin, Executive Vice President at Fishnet Security. "We see Aladdin's focus on authentication solutions and proven track record of launching new products as a very positive development for the SafeWord product line."

Aladdin and SafeWord will maintain service to SafeWord's customers by providing continued manufacturing services, as well as sales, service and support.

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