France-based Gemalto has announced plans to acquire U.S.-based data security firm SafeNet in a cash and debt deal worth $890 million, its biggest acquisition since Gemalto was created in 2006 with the merger of what was then the two largest smart card companies, Gemplus and Axalto.

The acquisition would advance Gemalto’s goal of offering more end-to-end security products and services, adding core network security to Gemalto’s smart card and other end-user authentication technology–which Gemalto calls its “edge of the network” security products. 

SafeNet, which had $337 million in revenue last year, protects encryption keys used by banks and other entities to safeguard networks, including what it touts as 80% of the world’s banking funds transfers. The firm also provides security for software licenses and offers some authentication services, but does not directly compete with Gemalto on the latter, said Gemalto CEO Olivier Piou.