Vector Capital Completes Acquisition of SafeNet, Inc.

  
    
  
  
    
      Vector Capital today announced that it has completed the acquisition of 
      SafeNet, Inc. (NASDAQ: SFNT) in a transaction valued at approximately 
      $634 million. The two-step acquisition consisted of a tender offer by 
      Stealth Acquisition Corp., an affiliate of Vector, for all outstanding 
      shares of SafeNet, Inc. into which more than 83% of the outstanding 
      common shares of the Company were tendered and not withdrawn, followed 
      by a merger of Stealth Acquisition Corp. with and into SafeNet..
    
    
      Chris Nicholson, a Partner at Vector, said, “Vector 
      is delighted to add a company of SafeNet’s 
      caliber to its exceptional portfolio of established technology 
      companies. We look forward to guiding SafeNet and its team of talented 
      professionals through this transition and to helping the Company 
      continue to achieve its goal of providing leading security solutions to 
      both its Government and Commercial customers.”
    
    
      David Fishman, a Principal at Vector commented “We 
      look forward to working with SafeNet and its employees to build on the 
      Company’s technology strengths and deep 
      customer relationships. We are confident that, as a private company, 
      SafeNet will be better positioned to capitalize on market opportunities 
      and compete more effectively.”
    
    
      Chris Fedde, SafeNet’s President and COO, 
      remarked, “Vector Capital is a leading 
      technology private equity firm and we are extremely excited to have the 
      opportunity to work with them. Their long-term capital, technology focus 
      and resources will greatly benefit SafeNet and our customers.”
    
    
      About Vector Capital
    
    
      Vector Capital is a leading private equity firm specializing in buyouts, 
      spinouts and recapitalizations of established technology businesses. 
      Vector identifies and pursues these complex investments in both the 
      private and public markets. Vector actively partners with management 
      teams to devise and execute new financial and business strategies that 
      materially improve the competitive standing of these businesses and 
      enhance their value for employees, customers and shareholders. Among 
      Vector’s notable investments are Savi 
      Technology, LANDesk Software, Corel Corporation (Nasdaq: CREL), 
      Register.com, and Watchguard Technologies. For more information, visit www.vectorcapital.com.
    
    
      About SafeNet, Inc.
    
    
      SafeNet is a global leader in information security. Founded more than 20 
      years ago, the company provides complete security utilizing its 
      encryption technologies to protect communications, intellectual property 
      and digital identities, and offers a full spectrum of products including 
      hardware, software, and chips. UBS, Nokia, Fujitsu, Hitachi, Bank of 
      America, Adobe, Cisco Systems, Microsoft, Samsung, Texas Instruments, 
      the U.S. Departments of Defense and Homeland Security, the U.S. Internal 
      Revenue Service and scores of other customers entrust their security 
      needs to SafeNet. For more information, visit www.safenet-inc.com.
    
    
      "Safe Harbor" Statement under the Private Securities Litigation 
      Reform Act of 1995
    
    
      The statements contained in this release, which are not historical 
      facts, are forward-looking statements within the meaning of Section 27A 
      of the Securities Act of 1933 and Section 21E of the Securities Exchange 
      Act of 1934. These statements are subject to uncertainties that could 
      cause actual results to differ materially from those set forth in or 
      implied by forward-looking statements. Important factors that could 
      cause actual results to differ materially are included but are not 
      limited to those listed in SafeNet's periodic reports and registration 
      statements filed with the Securities and Exchange Commission. The 
      Company assumes no obligation to update information concerning its 
      expectations.