Rainbow Technologies to Acquire Torrance Data Security Supplier

IRVINE — Rainbow Technologies Inc. said Monday that it has signed a letter of intent to acquire Mykotronx Inc. in Torrance. Mykotronx is a supplier of the technology used for securing communications transmissions.

Rainbow Technologies in Irvine said the sale should be completed by end of the year. A company spokesman would not disclose the exact amount of the acquisition, but said the deal was valued at more than $20 million.

The spokesman said Rainbow Technologies had hoped to acquire a company that focused on the protection of information to complement its own business of supplying security for software and hardware information.