Replies to post #214869 on Wave Systems Corp. (fka WAVXQ)

[muenchen]

Jas,

Thinking absolutely the same thing. If Wave went belly up Safend would have just $1.1m to show for their investment.

SKS must have sold them a convincing story of what 5.2 million Wave shares could be worth going forward.......


Hamster

[zen 88]

Jas- Same thing I thought.

So, that means they either saw the end coming and got out, or that 5 million shares looked like 50 million dollars to them in a short while.

Has anyone checked to see if they were making a profit?

[Countryboy]

Thursday, September 22, 2011
Philly & Tel Aviv-based Safend acquired

Lee, Massachusetts-based Wave Systems Corp announced today it has acquired Safend Ltd., a Tel Aviv-based company with US headquarters in Philadelphia. Safend provides endpoint security and data loss protection solutions.

The price was $12.8 million, of which $1.1 million was in cash and the rest in Wave stock. Wave says Safend has about 70 employees. Wave says it "will retain Safend's experienced executive team", including founder Gil Sever.

Safend VC backers have included Intel Capital, Elron Electronics Industries Ltd., and Walden Israel Venture Capital. Safend had raised at least $16.4 million, according to Crunchbase, so presumably this is not a good exit for its investors.