- Safenet
-
Safenet, Inc. 
Type Private Industry Information security Founded Timonium, Maryland USA 1983 Headquarters Belcamp, Maryland, 
USAKey people Mark Floyd, CEO
Diane Smith, VP, HR
Chris Fedde, President and COO
Prakash Panjwani, SVP & GM, Commercial Security Division
Jim Summers, SVP & GM Government Solutions, LLCProducts Encryption, Semiconductor IP, Electronics, DRM, Hardware Security Modules Revenue US$ 300,000,000 (2007)[1] Employees 1,600 (2009) Parent Vector Capital Divisions Commercial Security, Government Solutions, Aladdin Subsidiaries SafeNet Government Solutions, LLC Website www.safenet-inc.com SafeNet, Inc. is an information security company based in Belcamp, Maryland, United States. It is notable as one of the largest suppliers of encryption technology to the United States Government.[2]
The company's products are used in wide-area networks, wireless networks, digital rights management, and other applications.[3] SafeNet customers include corporations, governments, financial institutions, and OEMs. Annual revenues are in the $300 million range[4] and the company employs about 1,600 people.[5]
Contents
History
SafeNet, Inc was originally founded as Industrial Resource Engineering by two NSA engineers in 1983 and went public in an IPO in 1989. The firm grew steadily during the 80's and 90's via organic growth. After the turn of the century SafeNet took a driving role in the information security market consolidation and acquired multiple companies in the following years, most notable acquisition being Rainbow Technologies, a company twice the size of SafeNet in 2004. In 2006 SafeNet got caught up 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.[6][7][8] Today, SafeNet is the third largest Information Security company with revenues ~$500M.
Timeline
- 1983: Industrial Resource Engineering founded.
- 1987: IRE renamed to Information Resource Engineering
- 1989: IRE's IPO raised $4 million
- 1989: IRE listed in Nasdaq
- 1995: IRE released the first VPN system, called SafeNet
- 1999: IRE renamed to SafeNet, Inc. after the VPN product line
- 2002: SafeNet acquired a Dutch company Securealink
- February 2003: SafeNet acquired Cylink and Raqia Networks
- October 2003: SafeNet acquired the OEM business of SSH Communications Security[9]
- March 2004: SafeNet acquired Rainbow Technologies
- December 2004: SafeNet acquired Datakey, Inc
- April 2005: SafeNet acquired DMDSecure B.V.
- June 2005: SafeNet acquired MediaSentry
- December 2005: SafeNet acquired Eracom Technologies AG
- 2006: SafeNet got caught up in the options backdating controversy (see above)
- April 2007: a Californian equity company Vector Capital bought the firm for $634 million, making it private[10]
- April 2008: SafeNet acquired Ingrian Networks, Inc.
- May 2008: SafeNet acquired Beep Science AS
- March 2009: SafeNet parent company, Vector Capital acquired Aladdin Knowledge Systems[11]
- April 2009: SafeNet sold MediaSentry to ArtistDirect
- December 2009: SafeNet acquired Assured Decisions, LLC[12]
SafeNet Government Solutions, LLC (Formally Mykotronx)
The former Rainbow Technologies subsidiary SafeNet Government Solutions, LLC formerly SafeNet Mykotronx is still based in Torrance, California with offices in Irvine, California and Columbia, Maryland.[13] 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, LLC formerly Mykotronx provides INFOSEC and COMSEC 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 NSA and the NRO.[14]
Other SafeNet Government Solutions, LLC 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.[15] They previously developed the clipper chip.[16][17]
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.[18]
Aladdin Knowledge Systems
In 2009, Vector Capital acquired Aladdin Knowledge Systems, and placed it under SafeNet with the annotation of 'under common management', although it has been operationally merged with SafeNet.
References
- ^ "What you should know about SafeNet". http://www.safenet-inc.com/company/history.asp. Retrieved 2008-12-08.
- ^ Roseanne Gerin (2005-04-10). "SafeNet wins DOD network security deal". Washington Technology Magazine. http://www.washingtontechnology.com/online/1_1/27110-1.html. Retrieved 2008-12-08.
- ^ "SafeNet's factsheet at Hoover's". http://www.hoovers.com/safenet/--ID__16576--/free-co-factsheet.xhtml.
- ^ "SafeNet Celebrates 25 Years as Information Security Leader". Reuters. 2008-04-07. http://www.reuters.com/article/pressRelease/idUS104945+07-Apr-2008+BW20080407. Retrieved 2008-12-08.
- ^ "About SafeNet". http://www.safenet-inc.com/About_SafeNet/The_Company.aspx.
- ^ Jones/Associated, Dow (October 19, 2006). "SafeNet Is Roiled by Options Inquiry". The New York Times. http://www.nytimes.com/2006/10/19/business/19safenet.html. Retrieved 2008-10-12.
- ^ Reuters
- ^ "Cost of Backdating: Six Months, $1 Million". 2008-01-30. http://www.portfolio.com/views/blogs/daily-brief/2008/01/30/cost-of-backdating-six-months-1-million. Retrieved 2008-12-03.
- ^ "SSH sells its OEM business to SafeNet". 2003-10-14. http://www.ssh.com/company/news/article/484/.
- ^ "SafeNet sold, goes private". 2007-04-13. http://www.vectorcapital.com/news/portfolio/.
- ^ "Aladdin Knowledge Systems Completes Merger with Vector Capital Affiliate". 2009-03-24. http://www.vectorcapital.com/files/articles/63/03-24-09%20Aladdin%20Merger%20Complete%20FINAL%20PR%202.pdf.
- ^ "SafeNet to Acquire Assured Decisions, LLC". 2009-12-23. http://www.safenet-inc.com/About_SafeNet/News_and_Media/News_and_Media_Items/2009/SafeNet_to_Acquire_Assured_Decisions,_LLC.aspx.
- ^ "SafeNet Offices - North America". http://safenet-inc.com/worldwide/na.asp.
- ^ "KIV-7 Family". Federation of American Scientists. http://www.fas.org/irp/program/security/_work/kiv-7.html.
- ^ "Mykotronx wins defense card work". http://www.washingtontechnology.com/online/1_1/25773-1.html.
- ^ "INFORMATION ABOUT THE CLIPPER WIRETAP CHIP". http://www.austinlinks.com/Crypto/non-tech.html.
- ^ "THE CLIPPER CHIP: A TECHNICAL SUMMARY". http://catless.ncl.ac.uk/Risks/14.52.html.
- ^ "About SafeNet Mykotronx". http://www.safenet-inc.com/mykotronx/company/index.asp.
External links
Categories:- Software companies of the United States
- Computer security software companies
- Computer companies of the United States
- Companies established in 1983
- Copyright enforcement companies
- Cryptography companies
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