by CIO Staff

RSA Security Sale Reportedly Near

Jun 29, 20061 min

RSA Security, the digital security firm behind the popular RSA Security Conference, has been for sale for the past few months, and it is close to sealing a deal with data storage behemoth EMC and at least one other potential buyer, The New York Times reports.

The news comes from sources close to the sale process, according to the Times.

Parties bidding on Bedford, Mass.-based RSA could pay upward of $1.8 billion for the security firm, which has a market value of $1.46 billion, and the deal may close within a week, the Times reports.

According to the sources close to the deal, directors from RSA’s board will meet sometime before the weekend to discuss the current bids, but they stressed that RSA could decide not to go through with the sale at this point in time, the Times reports.

It is unclear what other company is in competition with EMC, according to the Times.

RSA, which produces SecureID security access cards for corporations and other entities, takes in roughly $322 million in yearly revenue and $40.5 million in annual net income, the Times reports.

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