Wave Systems is to acquire Israeli company Safend to bolster its portfolio of security and encryption products.
The total consideration totalled approximately $12.8 million, with $1.1 million in cash and 5.2 million shares of Wave Systems common stock, valued at $2.214 per share to close the deal.
The addition of Safend’s portfolio of encryption technologies to Wave Systems will create strong cross-selling opportunities in industries such as healthcare, financial services and government where data protection is a high priority, Brian Berger, executive vice-president of marketing and sales at Wave Systems said.
Safend offers endpoint data loss prevention, such as port and device control, encryption for removable devices, content inspection and discovery.
Safend’s data leak prevention and encryption software ‘complements’ Wave Systems’ data encryption and device authentication products, Berger said. The acquisition gives Wave Systems new products in removable media encryption, data leak prevention, endpoint monitoring, malware protection and mobile security.
‘With the escalation of cyber threats and an increasingly mobile workforce, many customers are looking for an integrated and cohesive security solution across the data lifecycle—from data-at-rest to data-in-motion and, ultimately, to archiving,’ said Steven Sprague, Wave Systems CEO and president.
For the time being, products will be sold in parallel, but the products will likely be integrated in the future.
Other M&A Deals
- Microsemi has reached an agreement to acquire Canadian chip manufacturer Zarlink Semiconductor
Value: $632 million (£407.9 million)
Advisers: Stifel Nicolaus Weisel and Morgan Stanley & Co. LLC are acting as financial advisors to Microsemi in the acquisition and its legal advisors are O’Melveny & Myers LLP and Stikeman Elliott LLP. RBC Capital Markets and Canaccord Genuity Corp. and are acting as financial advisors to Zarlink and its legal advisors are McCarthy Tetrault LLP, Davies, Ward, Phillips & Vineberg LLP and SNR Denton US LLP.
- Donovan Data Systems is set to merge with its main US competitor MediaBank and create a new company called MediaOcean
Value: undisclosed
Advisers: undisclosed
- Oracle will acquire GoAhead Software, a specialist in the development and delivery of packaged service availability software for the communications industry
Value: undisclosed
Advisers: undisclosed
- UK Distribution and outsourcing group Bunzl has continued on its acquisition spree, with two further acquisitions following a completed the takeover of Majestic Products
Value: $632 million (£407.9 million)
Advisors: undisclosed
