SafeNet
| File:SafeNetLogo2008.png | |
| Company type | Private |
|---|---|
| Industry | Information security |
| Founded | Timonium, Maryland USA 1983 |
| Headquarters | , |
Key people | Chris Fedde, President and COO Prakash Panjwani, SVP & GM, Commercial Security Division |
| Products | Encryption, Semiconductor IP, Electronics, DRM, Hardware Security Modules |
| Revenue | US$ 300,000,000 (2007)[1] |
Number of employees | 1,100 (2008) |
| Parent | Vector Capital |
| Divisions | Commercial Security, Government Solutions |
| Subsidiaries | Mediasentry, SafeNet Mykotronx |
| Website | www.safenet-inc.com |
SafeNet, Inc. is a Belcamp, Maryland based information security company, 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 1,100 people.[5]
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]
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 acquired Aladdin Knowledge Systems
- April 2009: SafeNet sold MediaSentry to Artistdirect
Subsidiaries
SafeNet has integrated their acquisitions directly to the parent company in most cases. However there are two notable exceptions; MediaSentry, acquired in 2005 and the former Rainbow Technologies subsidiary Mykotronx that have retained their original names and their offices are not listed as parent company locations[11]
MediaSentry
On June 13, 2005, SafeNet acquired Mediasentry,[12] an American company that provides services to the music recording, motion picture, television, and software industries for locating and identifying IP addresses that are engaged in the use of online networks to share material in a manner said organizations claim is in violation of copyright. Their most notable customers are several trade associations including the Recording Industry Association of America, Motion Picture Association of America and International Federation of the Phonographic Industry.
In early 2008, allegations surfaced that MediaSentry may be operating illegally in some states, due to the possible lack of a state license needed to conduct investigations.[13]
In 2008, the company was hired by the People's Republic of China to provide Digital Rights Management services for its domestic live and on-demand online video footage of the 2008 Summer Olympics.[14]
In April 2009, SafeNet sold the MediaSentry division to Artistdirect.[15]
Mykotronx
SafeNet's California subsidiary SafeNet 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. [16]
Other Mykotronx 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. [17]. They previously developed the clipper chip. [18] [19]
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. [20]
References
- ^ "What you should know about SafeNet". Retrieved 2008-12-08.
- ^ Roseanne Gerin (2005-04-10). "SafeNet wins DOD network security deal". Washington Technology Magazine. Retrieved 2008-12-08.
- ^ "SafeNet's factsheet at Hoover's".
- ^ "SafeNet Celebrates 25 Years as Information Security Leader". 2008-04-07. Retrieved 2008-12-08.
- ^ "Company profile". Retrieved 2008-12-08.
- ^ "SafeNet Is Roiled by Options Inquiry". The New York Times. October 19, 2006. Retrieved 2008-10-12.
- ^ Reuters
- ^ "Cost of Backdating: Six Months, $1 Million". 2008-01-30. Retrieved 2008-12-03.
- ^ "SSH sells its OEM business to SafeNet". 2003-10-14.
- ^ "SafeNet sold, goes private". 2007-04-13.
- ^ "SafeNet Offices - North America".
- ^ SafeNet secures MediaSentry deal
- ^ "Is RIAA's MediaSentry illegal in YOUR state?". P2PNET News. March 11, 2008.
- ^ RIAA ‘MediaSentry’ owner hired by China. p2pnet. August 7, 2008. Retrieved on August 7, 2008.
- ^ "ARTISTdirect Announces Acquisition of MediaSentry". Global Newswire. April 2, 2009.
- ^ "KIV-7 Family". Federation of American Scientists.
- ^ "Mykotronx wins defense card work".
- ^ "INFORMATION ABOUT THE CLIPPER WIRETAP CHIP".
- ^ "THE CLIPPER CHIP: A TECHNICAL SUMMARY".
- ^ "About SafeNet Mykotronx".