Aladdin Knowledge Systems announced that it has completed the acquisition previously announced on July 30, 2008, of the Secure SafeWord product line from Secure Computing Corporation for approximately $65 million in cash, including acquisition costs.
The Company today also raised guidance for the fiscal year 2008 to give effect to the completion of the SafeWord acquisition, as well as preliminary estimates of the performance of the Company’s core business.
Yanki Margalit, Chairman and CEO of Aladdin Knowledge Systems:
We are pleased to have completed this exciting transaction, and we expect to realize immediate benefits from the acquisition of SafeWord. SafeWord adds highly reliable technology to Aladdin as well as a strong market and channel presence, enabling us to offer customers a broader range of solutions for their security needs. Additionally, we will be able to leverage SafeWord’s global presence and competitive strengths to position the Company for long-term success.