Shearman & Sterling is representing SafeNet, Inc. in its definitive agreement to sell its Government Solutions Business to an undisclosed buyer. The transaction, which is subject to customary closing conditions, including required regulatory approvals, is expected to close by the end of 2012. Financial terms of the agreement were not disclosed.

Founded in 1983, SafeNet, Inc. is one of the largest information security companies in the world, and is trusted to protect the most sensitive data for market-leading organizations around the globe.

The divestiture is in line with SafeNet’s long-term strategy to focus on the company’s data protection solutions, protecting high-value information for enterprises, critical infrastructure providers and international governments. SafeNet will concentrate its investment and product development in the areas of data protection and strong authentication for the data center, virtual data center and the cloud.

The Shearman & Sterling team included partners Steve Camahort (San Francisco-Mergers & Acquisitions) and Dana Kromm (San Francisco-Mergers & Acquisitions) and associate Donald Guthrie (San Francisco-Mergers & Acquisitions), as well as partners Larry Crouch (Palo Alto-Tax),Richard Hsu (Palo Alto-Intellectual Property Transactions), Monica Holland (New York-Finance), Lisa Brill (New York-Real Estate) and Beau Buffier (New York-Antitrust/Competition).


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