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Gemalto to buy U.S. data protection firm SafeNet for $890 million

09
Aug
2014

By Natalie Huet PARIS (Reuters) – Gemalto NV, the digital security company that makes smart chips for mobile phones, bank cards and biometric passports, is to buy U.S.-based data protection specialist SafeNet for $890 million (529 million pounds), it said on Friday, in a move set to boost its earnings and reach. Gemalto has signed a definitive agreement to buy all of SafeNet’s shares [SFNT.UL] from private equity firm Vector Capital, using its available cash and credit facilities, the Amsterdam-based company said in a statement. The deal will expand Gemalto’s customer base to major U.S. clients and strengthen its offering in data protection at a time when cybersecurity is a growing headache for corporations and government agencies alike.

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