SafeNet#Mykotronx

{{infobox company

| name = SafeNet, Inc.

| logo = SafeNet logo.svg

| type = Subsidiary

| foundation = {{start date and age|1983}}, in Timonium, Maryland

| location_city = Belcamp, Maryland

| location_country = United States

| area_served = Worldwide

| industry = Information security

| products = Encryption, Semiconductor IP, software monetization, Software as a Service, hardware security modules, authentication, security tokens

| parent = Thales Group

| num_employees = 1,600 (2011)

| divisions = Data Protection, Software Monetization

| homepage = {{URL|https://cpl.thalesgroup.com/access-management/safenet-trusted-access|cpl.thalesgroup.com}}

}}

SafeNet, Inc. was an information security company based in Belcamp, Maryland, United States, which was acquired in August 2014 by the French security company Gemalto. Gemalto was, in turn, acquired by Thales Group in 2019. The former SafeNet's products include solutions for enterprise authentication, data encryption, and key management. SafeNet's software monetization products are sold under the Thales Sentinel brand.

SafeNet was notably one of the largest suppliers of encryption technology to the United States Government.{{cite news|url=http://www.washingtontechnology.com/online/1_1/27110-1.html|title=SafeNet wins DOD network security deal|publisher=Washington Technology Magazine|accessdate=2008-12-08|date=2005-04-10|author=Roseanne Gerin}}

On 8 August 2014, Gemalto announced that it had signed a definitive agreement to acquire 100% of the share capital of SafeNet from Vector Capital for US$890 million on a debt free/cash free basis.{{cite web | url=http://www.gemalto.com/press/Pages/Gemalto-to-acquire-SafeNet,the-worldwide-leader-in-data-and-software-protection.aspx | title=Gemalto to acquire SafeNet, the worldwide leader in data and software protection | date=2014-08-08 | accessdate=2014-08-13}} A subsequent acquisition of Gemalto by French rival Thales Group was completed on 2 April 2019.{{cite press release |url=https://www.prnewswire.com/news-releases/thales-completes-acquisition-of-gemalto-to-become-a-global-leader-in-digital-identity-and-security-extending-us-footprint-300822871.html|title=Thales Completes Acquisition of Gemalto to Become a Global Leader in Digital Identity and Security, Extending U.S. Footprint}}

History

1983: SafeNet, Inc is founded in 1983 in Timonium, MD as Industrial Resource Engineering by two former NSA engineers, Alan Hastings and Douglas Kozlay.
1986: Anthony A. Caputo becomes a silent investor in the company.
1987: Anthony Caputo takes the helm of the company as CEO and changes the name to Information Resource Engineering.
1988: Lawrence Livermore Labs becomes IRE's first major customer. The company moves its operations to White Marsh, MD.
1989: IRE goes public in an IPO initially trading on the OTC pink sheets.
1989: IRE rapidly becomes the leader in banking communications security with seven of the top ten U.S. banks as customers and encryption devices used by SWIFT (global interbank transfer system). An end-to-end encryption system was developed that secured data over an X.25 public network, providing the world's first "virtual private network." Early adopters included the Bank of Montreal and Citibank.
1994: IRE acquires Connective Strategies, Inc., a manufacturer of voice and data ISDN products founded by its CEO, Charles Brown.
October 1995: IRE acquires Swiss crypto manufacturer Gretag Data Systems for $4 million.
1996: MCI Communications launches the first commercial VPN service using SafeNet VPN technology developed by Charles Brown of SafeNet and Vinton Cerf of MCI. SafeNet is adopted by thirteen of the top fifteen U.S. banks within two years.
1997: IRE stock plunges 50% in one day on the announcement of the restructuring of the MCI contract.
July 1998: Major shareholder fails in a hostile takeover attempt of IRE.{{cite web|url=https://www.baltimoresun.com/news/bs-xpm-1998-07-11-1998192017-story.html|title=Coup fails|date=11 July 1998 }}
2000: IRE is renamed SafeNet, Inc. after the VPN product line.
2001: Company co-founder Doug Kozlay leaves SafeNet to form Biometric Associates, a technology company focused on biometric-based authentication and identity solutions.
2002: SafeNet acquires a Dutch company Securealink. With the collapse of the tech "bubble," SafeNet, as a public company with a strong sales channel{{citation needed|date=July 2019}}, was able to acquire a series of promising security companies at deep discounts.
February 2003: SafeNet acquires Cylink and Raqia Networks{{Cite web|last=EETimes|date=2003-02-28|title=EETimes - SafeNet acquires assets of Raqia Networks -|url=https://www.eetimes.com/safenet-acquires-assets-of-raqia-networks/|access-date=2020-09-17|website=EETimes}}
October 2003: SafeNet acquires the OEM business of SSH Communications Security{{cite web|url=http://www.ssh.com/company/news/article/484/|title=SSH sells its OEM business to SafeNet|date=2003-10-14|access-date=2008-12-03|archive-date=2006-11-28|archive-url=https://web.archive.org/web/20061128034638/http://www.ssh.com/company/news/article/484/|url-status=dead}}
November 2003: SafeNet moves its corporate offices to Belcamp, MD.
March 2004: SafeNet acquires Rainbow Technologies.{{cite web|url=https://www.bizjournals.com/baltimore/stories/2004/03/15/daily15.html|title=SafeNet, Inc. Announces Close of Merger with Rainbow Technologies|date=2004-03-14}}
December 2004: SafeNet acquires Datakey, Inc
April 2005: SafeNet acquires DMDSecure B.V.{{Cite web|last=EETimes|date=2005-03-25|title=EETimes - SafeNet to acquire software provider -|url=https://www.eetimes.com/safenet-to-acquire-software-provider/|access-date=2020-09-17|website=EETimes}}
June 2005: SafeNet acquires MediaSentry
December 2005: SafeNet acquires Eracom Technologies AG{{Cite web|last=GmbH|first=finanzen net|title=SafeNet Completes Acquisition of Eracom Technologies AG {{!}} Markets Insider|url=https://markets.businessinsider.com/news/stocks/safenet-completes-acquisition-of-eracom-technologies-ag-60922|access-date=2020-09-17|website=markets.businessinsider.com|language=en-us}}
2006: SafeNet was involved in the options backdating controversy. As a result, both the chief executive officer and the chief financial officer resigned, and in 2008 the company's former CFO was sentenced to six months in prison for manipulating employee stock options.{{cite news|url=https://www.nytimes.com/2006/10/19/business/19safenet.html|title=SafeNet Is Roiled by Options Inquiry|date=October 19, 2006|work=The New York Times|accessdate=2013-11-21 | first=Dow | last=Jones/Associated}}{{cite news|url=https://www.reuters.com/article/businessNews/idUSN2830012420080128|title=Ex-Safenet CFO gets prison term in options case|first=Martha|last=Graybow|website=reuters.com|date=28 January 2008}}{{cite web|url=http://www.portfolio.com/views/blogs/daily-brief/2008/01/30/cost-of-backdating-six-months-1-million|title=Cost of Backdating: Six Months, $1 Million|date=2008-01-30|accessdate=2013-11-21}}
April 2007: California-based financial company Vector Capital buys Safenet for $634 million, making it private{{cite web |url=http://www.vectorcapital.com/news/portfolio/ |title=SafeNet sold, goes private |date=2007-04-13}}
April 2008: SafeNet acquires Ingrian Networks, Inc.
May 2008: SafeNet acquires Beep Science AS
March 2009: SafeNet parent company, Vector Capital acquires Aladdin Knowledge Systems{{cite web |url=http://www.vectorcapital.com/files/articles/63/03-24-09%20Aladdin%20Merger%20Complete%20FINAL%20PR%202.pdf |title=Aladdin Knowledge Systems Completes Merger with Vector Capital Affiliate |date=2009-03-24 |access-date=2010-06-02 |archive-date=2009-04-19 |archive-url=https://web.archive.org/web/20090419095344/http://www.vectorcapital.com/files/articles/63/03-24-09%20Aladdin%20Merger%20Complete%20FINAL%20PR%202.pdf |url-status=dead }}
April 2009: SafeNet sells MediaSentry to ArtistDirect
December 2009: SafeNet acquires Assured Decisions, LLC{{cite web|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=asM8x3S74zqk|title=SafeNet to Acquire Assured Decisions, LLC |website=Bloomberg News |date=2009-12-23}}
December 2012: SafeNet sells its Government Solutions business unit to Raytheon{{Cite web|title=Raytheon Acquires SafeNet Inc.|url=http://finance.yahoo.com/news/raytheon-acquires-safenet-inc-181401806.html|access-date=2020-09-17|website=finance.yahoo.com|date=13 December 2012 |language=en-US}}
August 2014: SafeNet announces it is to be acquired by Gemalto by the 4Q of 2014''{{cite web|url=https://www.wsj.com/articles/gemalto-buys-safenet-for-890-million-1407482059|publisher=WSJ.com|title=Gemalto Buys SafeNet for $890 Million|date=2014-08-08|accessdate=2015-01-09}}
February 2015: SafeNet Assured Technologies is launched as a fully owned subsidiary of Gemalto to provide high-assurance data security products and technologies to the U.S. Government.{{cite web|url=https://www.safenetat.com/about/news/safenetAT-launch-pr|title=SafeNet Assured Technologies, LLC Formally Launches U.S. Based Business|date=2015-02-09}}
April 2019: Thales Group closes the acquisition of Gemalto.{{cite web|url=https://www.thalesgroup.com/en/group/journalist/press-release/thales-completes-acquisition-gemalto-become-global-leader-digital|title=Thales buys Gemalto|date=2019-04-02}} Thales Cloud Protection and Licensing were formed to serve the global community, and SafeNet Assured Technologies, the entity serving the U.S. Government, becomes Thales Trusted Cyber Technologies.

Current and former subsidiaries

The former Rainbow Technologies subsidiary SafeNet Government Solutions, formerly SafeNet Mykotronx, is still based in Torrance, California with offices in Irvine, California and Columbia, Maryland.{{cite web|url=http://safenet-inc.com/worldwide/na.asp|title=SafeNet Offices - North America}} The company was founded in 1979 as Myko Enterprises. It changed its name to Mykotronx, Inc in 1987 and merged with SafeNet as part of the SafeNet merger with Rainbow in 2004.{{cite web|url=http://www.safenet-inc.com/mykotronx/company/index.asp|title=About SafeNet Mykotronx}} SafeNet Government Solutions, LLC has been operationally merged into SafeNet and the lines between the two organizations have been intentionally blurred due to financial reasons. SafeNet Government Solutions is no longer considered a subsidiary. SafeNet Government Solutions provides information security and communications security technology for the US government. The firm has an indefinite-delivery, indefinite-quantity contract for its KIV-7 line of commercial off-the-shelf cryptographic devices that provide protection for digital and voice communications through TOP SECRET, used by agencies such as the National Security Agency (NSA) and the National Reconnaissance Office.{{cite web |url=http://www.fas.org/irp/program/security/_work/kiv-7.html|title=KIV-7 Family |publisher=Federation of American Scientists}} Other products include the KOV-14 Fortezza Plus PC card which was developed as part of the NSA's NSSI program and is used on Secure Terminal Equipment.{{cite web|url=http://www.washingtontechnology.com/online/1_1/25773-1.html|title=Mykotronx wins defense card work}} They previously developed the Clipper chip.{{cite web|url=http://www.austinlinks.com/Crypto/non-tech.html|title=INFORMATION ABOUT THE CLIPPER WIRETAP CHIP}}{{cite journal|url=http://catless.ncl.ac.uk/Risks/14.52.html|title=THE CLIPPER CHIP: A TECHNICAL SUMMARY|journal=The Risks Digest|last1=Neumann|first1=Peter G.|date=21 April 1993 |volume=14 |issue=52 }}

In 2009, Vector Capital acquires Aladdin Knowledge Systems, and placed it under SafeNet with the annotation of 'under common management'. In 2010, the two companies were officially merged.

References

External links

{{Official website|https://cpl.thalesgroup.com/access-management/safenet-trusted-access}}
[https://www.thalestct.com/ U.S. Subsidiary Website]

Category:American companies established in 1983

Category:American companies disestablished in 2014

Category:Software companies established in 1983

Category:Software companies established in 2014

Category:Defunct software companies of the United States

Category:Computer security software companies

Category:Copyright enforcement companies

Category:Cryptography companies

Category:Software companies based in Maryland

Category:1983 establishments in Maryland

Category:2014 disestablishments in Maryland

Category:2014 mergers and acquisitions

Category:American subsidiaries of foreign companies