Raytheon announced as buyer of SafeNet’s government solutions business

Massachusetts-based Raytheon has purchased the government solutions business of Harford County-based cybersecurity firm SafeNet, according to a press release issued by Raytheon Company, which works, as the firm boasts, at the intersection of technology and defense and homeland security.
In November, as Technically Baltimore reported, SafeNet announced it was selling its government solutions business to an undisclosed buyer in order to focus more on its data protection services. As we noted at the time, cybersecurity firms that sell to undisclosed buyers are typically selling to other cybersecurity companies or high-security contractors with the federal government.
Terms of the deal weren’t disclosed, although SafeNet did say when it announced the sale that its total revenue per year will be more than $350 million once the government solutions business was finally sold.
According to the Baltimore Business Journal, “Jim Summers, the general manger of SafeNet’s Government Solutions division, is joining Raytheon to continue as head of that product area.”