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By Jay Hancock | July 20, 2010
In the early 1900s, as war moved into the sky from its traditional venues of land and sea, Glenn L. Martin founded an airplane manufacturer to launch defense contracting in the same direction. The company set up in Maryland, near its moneybags federal customer, the U.S. Army Air Corps, and made millions designing and assembling bombers and flying boats in World War II. Its descendant is an important piece of today's Lockheed Martin Corp., based in Bethesda. Now that warfare is entering yet another dimension, Harford County-based SafeNet wants to be the Glenn L. Martin Co. of the Internet and sell the cyberspace version of the B-26 Marauder.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 30, 2014
Target, eBay, Michaels Stores, Neiman Marcus, P.F. Chang's and SuperValu — the parent of Shoppers Food & Pharmacy. It reads like a who's who of American retail and dining, but it's also a list of companies that lost customer data to cyberattacks in the past year. Data thieves are striking with alarming frequency and, more and more, security experts say, they target the places where people shop. The swipe of a credit card, the wave of a mobile phone at Starbucks, logging into retailers' sites via Wi-Fi — increased connectivity, from mobile devices to cloud computing, has opened the door wide for cybercriminals.
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BUSINESS
Gus G. Sentementes | November 9, 2012
SafeNet Inc., a Harford County cybersecurity company, said that it was selling off its government solutions business to an undisclosed buyer for an undisclosed amount. The Belcamp company said in an announcement that it was selling this part of its business -- which largely focuses on custom-made classified encryption products -- to focus on data protection and cybersecurity for its commercial and government customers. The company had acquired the government solutions business in 2004, according to Securities and Exchange documents.
BUSINESS
June 12, 2014
SafeNet, an data encryption company based in Harford County, announced Thursday the appointment of Prakash Panjwani as president and CEO. The 12-year SafeNet veteran most recently served as vice president and general manager of the company's data protection branch. Panjani's tenure comes at a crucial time for the information-protection industry, the company said. In January, more than 309,000 identities were exposed in an February breach at the University of Maryland. P.F. Chang's became the latest U.S. company to investigate a major credit card breach Tuesday.
BUSINESS
By Lorraine Mirabela | December 10, 2012
The new CEO and president of Belcamp-based SafeNet Inc. said Monday he intends to raise the profile of the data protection firm and “take SafeNet to the next level” by pursuing more commercial clients who are moving toward “cloud” computing. The company on Monday announced the appointment of Dave Hansen, the 48-year-old former CEO of Nomura Software and, since March, vice president and general manager of BMC Software, which had acquired Nomura. Hansen succeeds Chris Fedde, CEO since 2011, who will become a consultant to SafeNet, the company said.
BUSINESS
By TRICIA BISHOP and TRICIA BISHOP,SUN REPORTER | July 29, 2006
At its annual shareholders' meeting in Belcamp yesterday, SafeNet Inc. focused on the good news, reporting it was on track for record revenue, was ahead of schedule on military orders for data encryptors and had recently landed an unnamed big banking customer - which a trade publication has identified as SWIFT, the huge financial network. But before Chairman and Chief Executive Officer Anthony A. Caputo could get to all that, he had to deal with the bad. "I'd like to spend a few minutes talking about corporate governance, because this has become a very important issue at SafeNet," said Caputo, as he began his status-of-the-company report.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | September 19, 2006
SafeNet Inc., the Harford County technology company facing federal probes into its stock option grants, will have to restate up to six years of earnings because it understated expenses related to the grants, the company disclosed yesterday in filings with the Securities and Exchange Commission. The company will have to revise financial statements from 2000 through March 31, 2006, because "certain option grants made between 2000 and 2005, including grants to directors, officers and employees, were or likely were accounted for using incorrect measurement dates under applicable accounting rules in effect at the time," according to an SEC filing.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun Reporter | October 26, 2006
SafeNet Inc., the Harford County company whose stock option grants are under federal investigation, reported estimated third-quarter results yesterday that do not include restatements stemming from its review of option awards. SafeNet said it expects to report quarterly numbers in the first quarter of 2007, calculated according to generally accepted accounting principles. SafeNet's estimated earnings report comes a week after Anthony A. Caputo, former chairman and chief executive of the Belcamp encryption company, and Carole Argo, who was president, chief operating officer and acting chief financial officer, resigned as a result of the stock options investigation.
BUSINESS
By STACEY HIRSH and STACEY HIRSH,SUN REPORTER | February 9, 2006
SafeNet Inc., the Belcamp-based network security company, announced plans yesterday to buy a British Internet security company for $150 million. The cash deal to buy Cambridge, England-based nCipher would be the company's 11th acquisition in the past six years. It is expected to close in April. The acquisition of nCipher would bring the Maryland company more exposure in Europe, along with additional customers and important relationships, said Sean Jackson, a research analyst who follows SafeNet for the Nashville, Tenn.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | March 13, 2007
Faced with a federal investigation into its stock options practices and the need to restate years of financial results, SafeNet Inc. contacted 35 potential buyers before agreeing to be bought by San Francisco private equity firm Vector Capital, the Harford County company disclosed in a document filed late yesterday with the SEC. Seventeen of those signed confidentiality agreements and conducted due diligence, and three - including Vector Capital -...
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 3, 2013
In an industry with a lot of new competition, Belcamp-based SafeNet is a cybersecurity old hand: It's celebrating its 30th anniversary this year. To put that into context: SafeNet predates the World Wide Web. The company, founded with a focus on encryption, had a tumultuous past decade that included a stock options back-dating scandal while it was a publicly traded company. Now owned by a San Francisco firm that took it private in 2007, SafeNet says it protects nearly $1 trillion in transactions daily and has more than 25,000 customers, both government and commercial.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | December 12, 2012
Defense contractor Raytheon Co. said Wednesday it has acquired the government solutions business of Harford County-based SafeNet Inc., a cyber security company that had previously announced the sale of that piece of the business to an undisclosed buyer. Financial terms of the sale were not disclosed. Belcamp-based and privately held SafeNet, which on Monday appointed a new CEO and president, had said in November that it was selling off the Torrance, Calif., business, acquired in 2004, which focuses on defense-related, custom-made classified encryption products.
BUSINESS
By Lorraine Mirabela | December 10, 2012
The new CEO and president of Belcamp-based SafeNet Inc. said Monday he intends to raise the profile of the data protection firm and “take SafeNet to the next level” by pursuing more commercial clients who are moving toward “cloud” computing. The company on Monday announced the appointment of Dave Hansen, the 48-year-old former CEO of Nomura Software and, since March, vice president and general manager of BMC Software, which had acquired Nomura. Hansen succeeds Chris Fedde, CEO since 2011, who will become a consultant to SafeNet, the company said.
BUSINESS
Gus G. Sentementes | November 9, 2012
SafeNet Inc., a Harford County cybersecurity company, said that it was selling off its government solutions business to an undisclosed buyer for an undisclosed amount. The Belcamp company said in an announcement that it was selling this part of its business -- which largely focuses on custom-made classified encryption products -- to focus on data protection and cybersecurity for its commercial and government customers. The company had acquired the government solutions business in 2004, according to Securities and Exchange documents.
BUSINESS
By Jay Hancock | July 20, 2010
In the early 1900s, as war moved into the sky from its traditional venues of land and sea, Glenn L. Martin founded an airplane manufacturer to launch defense contracting in the same direction. The company set up in Maryland, near its moneybags federal customer, the U.S. Army Air Corps, and made millions designing and assembling bombers and flying boats in World War II. Its descendant is an important piece of today's Lockheed Martin Corp., based in Bethesda. Now that warfare is entering yet another dimension, Harford County-based SafeNet wants to be the Glenn L. Martin Co. of the Internet and sell the cyberspace version of the B-26 Marauder.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | July 12, 2010
Just a few years ago, SafeNet Inc., a Harford County technology firm, was wracked by a stock options scandal that sent its former chief financial officer to prison, tanked its stock price and eventually led to investors' taking the company private. But on Monday, Belcamp-based SafeNet announced that it is ready to hit Wall Street again. The company disclosed in a filing with the Securities and Exchange Commission its plans to go public in a $300 million stock offering — one of the biggest IPOs by a Maryland company in years.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun Reporter | December 8, 2006
SafeNet Inc., the Harford County technology company whose stock option grants are under federal investigation, said yesterday that it is planning to meet a Jan. 31 deadline for restating results over a five-year period to correct improper accounting of stock option grants. The company disclosed the timetable in an announcement yesterday that Nasdaq, which imposed the deadline, would continue to list its shares until that date, at which time it is requiring Safenet to file its delayed second- and third-quarter reports plus any restatements.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | April 4, 2007
SafeNet Inc., the Harford County technology company under federal investigation for its stock option grants, has reached settlement agreements with two of its former top executives, according to documents filed late yesterday with the Securities and Exchange Commission. The executives, Anthony A. Caputo, former chairman and chief executive, and Carole D. Argo, who was president, chief operating officer and acting chief financial officer, resigned in October amid an investigation into the company's stock options.
BUSINESS
By Tricia Bishop and Tricia Bishop,tricia.bishop@baltsun.com | November 21, 2009
The U.S. Securities and Exchange Commission has settled fraud claims against five former SafeNet employees, including a chief executive officer who resigned in 2006 amid a stock option scandal. Former CEO Anthony A. Caputo and Chief Financial Officer Kenneth Mueller were charged in a civil complaint with backdating stock options to inflate their value between 2000 and 2006.
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