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Provider: Reuters Investment Profile
Provider: Wright Reports

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Inside Secure SA Completes the Acquisition of Embedded Security Solutions (ESS)

Monday, 3 Dec 2012 01:15am EST 

Inside Secure SA announced it has completed the acquisition of Embedded Security Solutions (ESS). ESS is a business which designs and develops encryption-related security hardware intellectual property (IP) and software for a variety of industries, including the mobile and networking markets. At closing, Inside Secure SA paid a transaction consideration of USD 41.6 million net of cash acquired and after an adjustment based on the estimated working capital of the transferred business at closing and completion of certain closing-related transactions. The Company may pay an additional cash consideration of up to USD 5.2 million subject to completion of certain transactions before April 1, 2013. As a result of this acquisition, Mr. Simon Blake-Wilson, Vice President of ESS since 2006, has been appointed Executive Vice President in charge of Inside Secure SA's Embedded Security Solutions division. 

Company Quote

-0.04 -0.87%
6:37am EDT