Gemalto will pay $890 million for data protection firm SafeNet

LONDON — The Dutch digital security company Gemalto said Friday that it had agreed to pay $890 million to acquire SafeNet, a Maryland provider of data protection software.

Gemalto’s security products are used for mobile wallets and online banking and in some national identity cards and bank cards.

Gemalto, which is based in Amsterdam, would acquire 100 percent of the share capital of SafeNet from the private-equity firm Vector Capital.

The purchase would be funded by cash and existing long-term debt facilities. The transaction is expected to close in the fourth quarter.

The deal is expected to bolster Gemalto’s offerings of software and other products that are used to verify identity and provide encrypted security for financial transactions and other online activities.

Olivier Piou, the Gemalto chief executive officer, said the deal would “expand our technologies and growth opportunities in protecting online access.”

SafeNet provides digital information security software to banks, retailers, government agencies and others. Its software is used to protect more than 80 percent of the world’s intrabank transfers, SafeNet said.

Founded in 1983, SafeNet employs more than 1,500 employees and has a presence in 27 countries. It posted revenue of $337 million in 2013.

“The combination of our portfolios will allow customers to have access to world’s leading security products for mobile and cloud, delivering best-in-class protection of data and identities,” Prakash Panjwani, the SafeNet president and chief executive, said in a news release.

Gemalto employs more than 12,000 people in 44 countries. It posted revenue of about $3.2 billion last year.