Aladdin Knowledge Systems to consider equity firm's offer

By Lisa Kerner

Charlotte, N.C., Aug. 20 - Aladdin Knowledge Systems Ltd.'s board of directors, in conjunction with Credit Suisse Securities (USA) LLC, is reviewing an unsolicited proposal from Vector Capital to acquire the company.

The private equity firm's proposal includes a potential alternative transaction whereby Vector Capital would acquire Aladdin's digital rights management business.

Additional alternative transactions could include Aladdin's repurchasing its shares from Vector Capital and the sale of SafeNet, Inc.'s authentication business to Aladdin.

SafeNet is a Vector Capital subsidiary and Aladdin competitor, an Aladdin news release noted.

Yanki Margalit, Aladdin chairman and chief executive officer, said the company continues to implement its strategic plan, which includes two recently announced complementary acquisitions.

Aladdin, based in Petach Tikva, Israel, provides security solutions that reduce software theft, authenticate network users and protect against spam and viruses.

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