Storage giant EMC Corp. may be near an agreement to purchase RSA Security Inc.
The New York Times reported Thursday that a deal worth as much as $1.8 billion could be completed within the next few days.
The Times said that RSA, based in Bedford, Mass., discreetly put itself on the market several months ago and that its board of directors is expected to meet this weekend to review final bids from two or more bidders.
RSA spokesman Matt Buckley confirmed that the company is currently engaged in what it calls a "potential strategic transaction," but no definitive agreement has been reached. He declined to say which possible buyers may be involved in those negotiations or whether a deal was imminent.
"There can be no assurance that any agreement will be reached or that a transaction will be consummated," Buckley said. "We do not plan to make future announcements with respect to this process unless and until our Board has approved a specific transaction and we have entered into a definitive agreement."
The Times reported that Hopkinton, Mass.-based EMC is just one of what may be multiple suitors, and it is still possible that RSA may choose not to accept any potential offers.
RSA is a leader in the cryptography and authentication markets. Its RSA Security Conference has grown over the years to become the security industry's premiere gathering. The company has a market value of approximately $1.46 billion.
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Michael S. Mimoso, Editorial Director