Privately owned Australian security software developer Identikey has agreed to be acquired by US security solutions provider VASCO Data Security International through a share swap valued at $US3 million, with further payments possible if performance goals are reached. Identikey has for some years been a development partner for Vasco and has incorporated its Digipass products into its own Web portal security offerings.
A spokesman said the Identikey family of Web security software products will offer VASCO a Web authorisation SnareWorks SecureServer product that extends security beyond the LAN authentication market of its existing product to provide quick-to-implement Web portal security. Vasco will market the Identikey products under the SnareWorks brand and will merge the Identikey sales force with its own. Mark Kefford, the founder of Identikey, will join Vasco's management team.
"The addition of the Identikey R2 product range into the Vasco SnareWorks family provides packaged Web security that can grow with the client to facilitate full single sign-on capabilities," the Vasco spokesman explained.
"Our acquisition of Identikey will bring affordable and easy-to-implement Web portal security within the reach of any corporation, financial institution or government agency wishing to conduct business on the Internet safely and securely," he concluded.