On Friday, Gemalto, a Dutch digital security company, announced plans to acquire U.S.-based SafeNet for $890 million.
SafeNet's portfolio of data protection solutions is expected to complement Gemalto's embedded software and portable secure element offerings, according to a release. SafeNet already protects more than 80 percent of global intra-bank fund transfers and serves more than 25,000 customers in 100 countries.
Gemalto's 2013 revenue was about $3.21 billion, and the company predicts that this acquisition will increase its operating profit by 10 percent in 2017.
“This will enable us to further accelerate the deployments of strong security solutions in the enterprise sector and expand our technologies and growth opportunities in protecting online access,” Olivier Piou, Gemalto CEO, said in the company's release.