PC security leader SafeNet to acquire cryptography specialist Eracom

Belcamp, Maryland-based computer safety leader SafeNet (NASDAQ: SFNT) — about 75 percent of financial institutions around the world use SafeNet technology for securing critical data and communications — will acquire all equity interests of Krefeld, Germany-based Eracom Technologies. The acquisition agreement calls for SafeNet to pay a cash consideration of approximately $25 million. This transaction is expected to be accretive within one quarter after the acquisition close, which is expected in December of this year. Eracom’s products complement SafeNet’s product line. SafeNet is a leading provider of hardware encryption appliances to the transactional security marketplace, while Eracom is a leader in providing cryptographic and transaction security solutions to protect credit cards, electronic funds transfer (EFT), and ATM transactions for financial institutions, governments, and telecommunications providers.Eracom also offers a PC disk encryption system which complements SafeNet’s Borderless Solution. The two companies’ products are used to protect integrity of data on individual PCs and laptops by requiring authentication of the user before the device is booted-up and data is accessed. -read more in this SafeNet news release; and read more about the two companies’ technologies at the Web sites of SafeNet | Eracom