Venable Closes Another Acquisition for Leading Internet Security Technology Provider SafeNet, Inc.

1 min

Venable closed the stock-for-stock acquisition by SafeNet, Inc. (SFNT) of Cylink Corporation (CLYK) on February 5, 2003. SafeNet, a Nasdaq national market company, is a leading provider of Internet security technology that is the defacto standard in the virtual private network industry. The transaction, valued at closing at approximately $40 million, was structured as a tax-free merger and required shareholder approval from both parties. Shares issued in the merger were registered with the U.S. Securities and Exchange Commission. The Venable team included Beth Hughes, Don Creston, Tom France, Bob McCarthy, Bill McComas, Newt Fowler, John Wilhelm and Brian O'Connor.

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