SafeNet, Inc.was aninformation securitycompany based inBelcamp, Maryland,United States,which was acquired in August 2014 by the French security companyGemalto.Gemalto was, in turn, acquired byThales Groupin 2019. The former SafeNet's products include solutions for enterprise authentication,data encryption,andkey management.SafeNet's software monetization products are sold under the Thales Sentinel brand.
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Information security |
| Founded | 1983,inTimonium, Maryland |
| Headquarters | , United States |
Area served | Worldwide |
| Products | Encryption,Semiconductor IP,software monetization,Software as a Service,hardware security modules,authentication,security tokens |
Number of employees | 1,600 (2011) |
| Parent | Thales Group |
| Divisions | Data Protection, Software Monetization |
| Website | cpl.thalesgroup |
SafeNet was notably one of the largest suppliers of encryption technology to theUnited States Government.[1]
On 8 August 2014, Gemalto announced that it had signed a definitive agreement to acquire 100% of theshare capitalof SafeNet from Vector Capital for US$890 million on a debt free/cash free basis.[2]A subsequent acquisition of Gemalto by French rivalThales Groupwas completed on 2 April 2019.[3]
History
editThis sectionneeds additional citations forverification.(May 2024) |
- 1983: SafeNet, Inc is founded in 1983 inTimonium, MDas Industrial Resource Engineering by two formerNSAengineers, Alan Hastings and Douglas Kozlay.
- 1986: Anthony A. Caputo becomes a silent investor in the company.
- 1987: Anthony Caputo takes the helm of the company as CEO and changes the name to Information Resource Engineering.
- 1988: Lawrence Livermore Labs becomes IRE's first major customer. The company moves its operations toWhite Marsh, MD.
- 1989: IRE goes public in anIPOinitially trading on theOTCpink sheets.
- 1989: IRE rapidly becomes the leader in banking communications security with seven of the top ten U.S. banks as customers and encryption devices used bySWIFT(global interbank transfer system). Anend-to-end encryptionsystem was developed that secured data over anX.25public network, providing the world's first "virtual private network." Early adopters included theBank of MontrealandCitibank.
- 1994: IRE acquires Connective Strategies, Inc., a manufacturer of voice and dataISDNproducts founded by its CEO, Charles Brown.
- October 1995: IRE acquires Swiss crypto manufacturer Gretag Data Systems for $4 million.
- 1996:MCI Communicationslaunches the first commercialVPNservice using SafeNet VPN technology. SafeNet is adopted by thirteen of the top fifteen U.S. banks within two years.
- 1997: IRE stock plunges 50% in one day on the announcement of the restructuring of the MCI contract.
- July 1998: Majorshareholderfails in ahostile takeoverattempt of IRE.[4]
- 2000: IRE is renamed SafeNet, Inc. after theVPNproduct line.
- 2001: Company co-founder Doug Kozlay leaves SafeNet to form Biometric Associates, a technology company focused onbiometric-based authentication and identity solutions.
- 2002: SafeNet acquires a Dutch company Securealink. With the collapse of the tech "bubble," SafeNet, as a public company with a strong sales channel[citation needed],was able to acquire a series of promising security companies at deep discounts.
- February 2003: SafeNet acquires Cylink and Raqia Networks[5]
- October 2003: SafeNet acquires theOEMbusiness ofSSH Communications Security[6]
- November 2003: SafeNet moves its corporate offices to Belcamp, MD.
- March 2004: SafeNet acquires Rainbow Technologies.[7]
- December 2004: SafeNet acquires Datakey, Inc
- April 2005: SafeNet acquires DMDSecure B.V.[8]
- June 2005: SafeNet acquiresMediaSentry
- December 2005: SafeNet acquires Eracom Technologies AG[9]
- 2006: SafeNet was involved in theoptions backdatingcontroversy. As a result, both thechief executive officerand thechief financial officerresigned, and in 2008 the company's former CFO was sentenced to six months in prison for manipulating employeestock options.[10][11][12]
- April 2007: California-based financial company Vector Capital buys Safenet for $634 million, making it private[13]
- April 2008: SafeNet acquires Ingrian Networks, Inc.
- May 2008: SafeNet acquires Beep Science AS
- March 2009: SafeNet parent company, Vector Capital acquiresAladdin Knowledge Systems[14]
- April 2009: SafeNet sellsMediaSentryto ArtistDirect
- December 2009: SafeNet acquires Assured Decisions, LLC[15]
- December 2012: SafeNet sells its Government Solutions business unit toRaytheon[16]
- August 2014: SafeNet announces it is to be acquired byGemaltoby the 4Q of 2014[17]
- February 2015: SafeNet Assured Technologies is launched as a fully owned subsidiary ofGemaltoto provide high-assurance data security products and technologies to the U.S. Government.[18]
- April 2019:Thales Groupcloses the acquisition ofGemalto.[19]Thales Cloud Protection and Licensing were formed to serve the global community, and SafeNet Assured Technologies, the entity serving the U.S. Government, becomes Thales Trusted Cyber Technologies.
Current and former subsidiaries
editThe former Rainbow Technologies subsidiary SafeNet Government Solutions, formerly SafeNet Mykotronx, is still based inTorrance, Californiawith offices inIrvine, CaliforniaandColumbia, Maryland.[20]The company was founded in 1979 as Myko Enterprises. It changed its name to Mykotronx, Inc in 1987 and merged with SafeNet as part of the SafeNet merger with Rainbow in 2004.[21]SafeNet Government Solutions, LLC has been operationally merged into SafeNet and the lines between the two organizations have been intentionally blurred due to financial reasons. SafeNet Government Solutions is no longer considered a subsidiary. SafeNet Government Solutions providesinformation securityandcommunications securitytechnology for the US government. The firm has anindefinite-delivery, indefinite-quantitycontract for itsKIV-7line ofcommercial off-the-shelfcryptographicdevices that provide protection for digital and voice communications throughTOP SECRET,used by agencies such as theNational Security Agency(NSA) and theNational Reconnaissance Office.[22]Other products include theKOV-14 Fortezza PlusPC card which was developed as part of the NSA's NSSI program and is used onSecure Terminal Equipment.[23]They previously developed theClipper chip.[24][25]
In 2009, Vector Capital acquiresAladdin Knowledge Systems,and placed it under SafeNet with the annotation of 'under common management'. In 2010, the two companies were officially merged.
References
edit- ^Roseanne Gerin (2005-04-10)."SafeNet wins DOD network security deal".Washington Technology Magazine.Retrieved2008-12-08.
- ^"Gemalto to acquire SafeNet, the worldwide leader in data and software protection".2014-08-08.Retrieved2014-08-13.
- ^"Thales Completes Acquisition of Gemalto to Become a Global Leader in Digital Identity and Security, Extending U.S. Footprint"(Press release).
- ^"Coup fails".11 July 1998.
- ^EETimes (2003-02-28)."EETimes - SafeNet acquires assets of Raqia Networks -".EETimes.Retrieved2020-09-17.
- ^"SSH sells its OEM business to SafeNet".2003-10-14. Archived fromthe originalon 2006-11-28.Retrieved2008-12-03.
- ^"SafeNet, Inc. Announces Close of Merger with Rainbow Technologies".2004-03-14.
- ^EETimes (2005-03-25)."EETimes - SafeNet to acquire software provider -".EETimes.Retrieved2020-09-17.
- ^GmbH, finanzen net."SafeNet Completes Acquisition of Eracom Technologies AG | Markets Insider".markets.businessinsider.Retrieved2020-09-17.
- ^Jones/Associated, Dow (October 19, 2006)."SafeNet Is Roiled by Options Inquiry".The New York Times.Retrieved2013-11-21.
- ^Graybow, Martha (28 January 2008)."Ex-Safenet CFO gets prison term in options case".reuters.
- ^"Cost of Backdating: Six Months, $1 Million".2008-01-30.Retrieved2013-11-21.
- ^"SafeNet sold, goes private".2007-04-13.
- ^"Aladdin Knowledge Systems Completes Merger with Vector Capital Affiliate"(PDF).2009-03-24. Archived fromthe original(PDF)on 2009-04-19.Retrieved2010-06-02.
- ^"SafeNet to Acquire Assured Decisions, LLC".Bloomberg News.2009-12-23.
- ^"Raytheon Acquires SafeNet Inc".finance.yahoo.13 December 2012.Retrieved2020-09-17.
- ^"Gemalto Buys SafeNet for $890 Million".WSJ. 2014-08-08.Retrieved2015-01-09.
- ^"SafeNet Assured Technologies, LLC Formally Launches U.S. Based Business".2015-02-09.
- ^"Thales buys Gemalto".2019-04-02.
- ^"SafeNet Offices - North America".
- ^"About SafeNet Mykotronx".
- ^"KIV-7 Family".Federation of American Scientists.
- ^"Mykotronx wins defense card work".
- ^"INFORMATION ABOUT THE CLIPPER WIRETAP CHIP".
- ^Neumann, Peter G. (21 April 1993)."THE CLIPPER CHIP: A TECHNICAL SUMMARY".The Risks Digest.14(52).