Mergers and Acquistions News
Categories: IT Services & Consulting
January 13th 2009, 15:56PM
Private equity firm Vector Capital has agreed a $160 million (£104 million) takeover deal with Israeli software encryption firm Aladdin Knowledge Systems.
Under the terms of the deal, Aladdin investors will receive $11.50 for each share they own, around a 20 per cent premium on the firm's closing price on January 9th 2009.
David Fishman, partner at Vector Capital, stated that Aladdin's digital rights management and authentication software make it a good addition to services provided by SafeNet, which Vector also owns.
"Aladdin is an exceptional company, with significant potential and a strong commitment to its employees, partners and customers worldwide," he said.
The two firms will be working together in order to ensure a smooth transition, Mr Fishman added.
Services offered by Aladdin include a USB-base authentication system, which allows users to protect sensitive data.
Aladdin was founded in 1985, has fourteen offices across the world and provides data protection services to organisations including governments, Fortune 100 companies and major financial and educational institutions.
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