UNTERSCHLEISSHEIM, Germany, April 29 (UPI) -- Cassidian CyberSecurity is becoming the major shareholder of the French information and network security company Arkoon Network Security.
Cassidian, which acquired Netasq last November, said acquisition of Arkoon is a "strategic step in the creation of the European industrial base for cybersecurity products and solutions."
"A global cybersecurity offering must necessarily rely on an extensive range of products and solutions in order to meet the needs of our customers," said Jean-Michel Orozco, chief executive officer Cassidian CyberSecurity. "The combination of Cassidian CyberSecurity, Netasq and Arkoon Network Security has created an industrial player with an international dimension, supplying trusted European solutions for guaranteeing the security of information systems."
Cassidian CyberSecurity is buying all the shares held by the major financial shareholders of Arkoon Network Security, including those held by its founders and management, at a maximum price of about $4.55 per share. That would give Cassidian a stake of about 83.9 percent.
Consequently, Cassidian CyberSecurity will, as required by French law, submit a simplified tender offer and, if applicable, a procedure that would result in Cassidian owning more than 95 percent of Arkoon's share capital and voting rights.
