Cassidian CyberSecurity signed an agreement to become the main shareholder of Arkoon Network Security, one of the recognized major European players in network security, information systems protection and data confidentiality.

Following the acquisition of Netasq on 16 November 2012, the acquisition of Arkoon Network Security represents a new strategic step in the creation of the European industrial base for cyber-security products and solutions. The extended portfolio constitutes a firm foundation for guaranteeing the security of IT networks for governments, critical infrastructures and strategic industries.

Jean-Michel Orozco, CEO of Cassidian CyberSecurity, said: “A global cyber-security offering must necessarily rely on an extensive range of products and solutions in order to meet the needs of our customers. 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”.

Thierry Rouquet, Chairman of the Board of Arkoon Network Security, added: “This is excellent news for our customers, partners and staff, and it will enable Arkoon Network Security to benefit from new opportunities in terms of access to international markets”.

The share purchase agreement dated 26 April 2013 concerns the sale of approximately 83.9% of Arkoon Network Security shares to Cassidian CyberSecurity at a maximum price of 3.25 Euros per share.

The planned transaction concerns all the shares held by the major financial shareholders of Arkoon Network Security, the founders and the management.

The personnel representative bodies of both companies have been informed and consulted and this planned transaction remains subject to certain of the usual conditions precedent.

Subject to completion of the transaction, which should, in principle, take place in May 2013, and after effective transfer of the shares from the main shareholders of Arkoon Network Security as listed above, and taking account of the loss of the double voting rights from which some of the shares benefitted, Cassidian CyberSecurity will hold approximately 83.9% of the capital and voting rights of Arkoon Network Security.

The Arkoon Network Security company asked that trading of its stocks be suspended as of close of business on 26 April 2013, a situation that is to be maintained until further notice.