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30 Jul 2008
Secure Computing has offloaded its SafeWord authentication business to rival Aladdin Knowledge Systems in a $65m (£33m) cash deal.
Israel-based Aladdin claims the move will transform it into the world’s “premier” strong authentication provider and bolster its existing channel for authentication products.
SafeWord contributed $32m to Secure’s top line last year. Daniel Ryan, chief executive of Secure, said the disposal would allow it redouble its focus on its core web, mail and network gateway appliance business.
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“After considering a number of prospective buyers, Secure Computing chose Aladdin as the strongest partner, best suited to ensure a seamless transition and continued best-in-class services and support for our Secure SafeWord customers and partners,” Ryan said.
Ryan added: “The company believes the vast majority of customers and channel partners will both support and celebrate the company’s renewed focus.”
Aladdin said it plans to fully engage and support Secure Computing’s network of current SafeWord channel partners.
Yanki Margalit, chief executive of Aladdin, added: “This acquisition is a major corporate milestone, as it quickly brings sizeable revenues and growth opportunities that perfectly align with Aladdin’s business.”
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