SafeNet's private equity owner has completed the takeover of Aladdin Knowledge Systems.
Vector Capital completed the reported $160 million deal, with Aladdin product lines now being led by Prakash Panjwani, SafeNet's senior vice-president and general manager. Aladdin's customer service and support functions will be combined with SafeNet's global service and support structures, under the direction of Phil Saunders, SafeNet's SVP of worldwide sales and customer services.
Chris Fedde, president and COO, SafeNet, said: “The completion of this transaction will bring great opportunities to our customers, all of our employees and the information security industry. In these challenging economic times, customers want to engage with a financially strong and nimble vendor.”
Panjwani said: “We are excited to share our success with that of Aladdin and be able to tap each company's deep talent for the benefit of our customers.”