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Inside Secure completed the acquisition of ESS
At closing, Inside Secure paid a transaction consideration of USD 41.6 million net of cash acquired, after an adjustment based on the estimated working capital of the transferred business at closing and completion of certain closing-related transactions.
Inside Secure may pay an additional cash consideration of up to USD 5.2 million subject to completion of certain transactions before April 1, 2013.
As a result of this acquisition, Simon Blake-Wilson, vice president of Embedded Security Solutions (ESS) since 2006, has been appointed executive vice president in charge of Inside Secure’s Embedded Security Solutions division. Simon Blake-Wilson has a proven track record in digital security solutions. He is a well-known researcher in wireless security and his skills range from cryptographic protocol design to the implementation of security policies and the business and legal ramifications of digital signatures.
