SafeNet completes Rainbow acquisition

March 16, 2004

SafeNet's acquisition of Rainbow Technologies has been successfully closed.

SafeNet Inc. has completed its acquisition of Rainbow Technologies Inc, which was announced in October last year and valued at over $450m. Shareholders voted in favour of the deal, issuing 11.1m shares of SafeNet (around 43% of the combined company) to Rainbow's shareholders.

SafeNet, a specialist in network security including VPNs and network encryption, has gained Rainbow's token, remote access and encryption technology as well as government contracts and penetration into the consumer market.

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