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Aladdin Knowledge Systems Acknowledges Receipt of Confidential Unsolicited Proposal From Vector Capital
(Marketwire Via Acquire Media NewsEdge) TEL AVIV, ISRAEL, August 20 / MARKET WIRE/ --
Aladdin Knowledge Systems (NASDAQ: ALDN),
an information security leader specializing in authentication, software DRM
and content security, in response to press reports, confirmed receipt of a
confidential, unsolicited proposal from Vector Capital, a private equity
firm, to acquire the Company. Vector Capital's proposal includes a
potential alternative transaction of Vector Capital acquiring the Company's
DRM business, potentially combined with a repurchase by Aladdin of the
shares of Aladdin purchased by Vector Capital, and the sale by SafeNet,
Inc., a Vector affiliate, of its authentication business to Aladdin.
Consistent with its fiduciary duties and in consultation with its
independent financial advisors and legal counsel, Aladdin's Board of
Directors is reviewing the proposal and will thereafter inform Aladdin's
stockholders of its position.
Yanki Margalit, Chairman and CEO of Aladdin Knowledge Systems, stated, "The
Board of Directors of Aladdin, in consultation with its independent
advisors, is carefully considering and reviewing Vector Capital's proposal
as part of our ongoing efforts to deliver enhanced shareholder returns. Our
Board and management team remains fully committed to enhancing shareholder
value and we are continuing to implement our strategic plan, which includes
organic growth as well as complementary acquisitions, two of which we
announced just this past month, designed to strengthen our portfolio of IT
security offerings and increase our global brand recognition."
Vector Capital through its wholly owned subsidiary, SafeNet, Inc., is a
direct competitor of Aladdin. Both Vector Capital and SafeNet, Inc. are
headquartered in the United States.
Credit Suisse Securities (USA) LLC is serving as financial advisors to
Aladdin, Kramer Levin Naftalis & Frankel LLP is serving as U.S. legal
counsel and Herzog, Fox & Ne'eman is serving as Israeli counsel to the
Company.
About Aladdin
Aladdin Knowledge Systems (NASDAQ: ALDN) is an information security leader
with offices in 12 countries, a worldwide network of channel partners, and
numerous awards for innovation. Aladdin eToken is the world's #1 USB-based
authentication solution, offering identity and access management tools that
protect sensitive data. Aladdin HASP SRM boosts growth for software
developers and publishers through strong anti-piracy protection, IP
protection, and secure licensing and product activation. Aladdin eSafe
delivers real-time intelligent Web gateway security that helps protect data
and networks, improve productivity, and enable compliance. Visit
www.Aladdin.com.
Safe Harbor Statement
Certain information presented herein constitutes forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the company to be materially different from
any future results, performance or achievements expressed or implied by
such forward-looking statements. Such factors include general economic and
business conditions, risks relating to our recent acquisition of Athena
Smartcards and the proposed acquisition of Eutronsec, including the failure
to realize expected synergies, failure to effectively integrate these
businesses into our business and increasing unexpected liabilities, the
loss of market share, changes in the level of business or anticipated
business from a large customer or customers, failure to achieve anticipated
customer orders, changes in the competitive landscape and other factors
over which the company has little or no control. For more information,
please refer to the Company's filings with the Securities and Exchange
Commission, which are available on the Commission's website at www.sec.gov.
?2008 Aladdin Knowledge Systems, Ltd. All rights reserved. HASP, eToken,
eSafe, Aladdin Knowledge Systems and the Aladdin logo are trademarks or
registered trademarks of Aladdin Knowledge Systems, Ltd.
Aladdin Press Contact:
Matthew Zintel
Zintel Public Relationsmatthew.zintel@zintelpr.com
310.574.8888
Aladdin Company Contact:
Debbie Kaye
Aladdin Corporate Communicationsdebbie.kaye@aladdin.com
646.468.0481
Aladdin Investor Contact:
Andy Brimmer / Matt Sherman
Joele Frank, Wilkinson Brimmer Katcherabrimmer@joelefrank.com / msherman@joelefrank.com
212.355.4449
Copyright ? 2008 Marketwire
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