Gemalto draws from credit facilities to help fund SafeNet acquisition

By Marisa Wong

Madison, Wis., Aug. 8 – Gemalto drew $450 million from its existing long-term credit facilities to help fund its acquisition of SafeNet from Vector Capital, according to a news release.

The transaction, valued at $890 million, was also funded with $440 million of available cash. Closing is expected to occur in the fourth quarter.

Gemalto said it may, depending on market conditions, refinance the credit facilities through a bond issuance or other means at a later date.

Gemalto is a digital security company based in Amsterdam.

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