SAP Ventures, SAP AG's venture capital subsidiary, has made an undisclosed equity investment in iD2 Technologies, a Swedish company that makes IT security products.
The funding will help the company to grow globally and expand into new vertical markets, the companies said in a statement yesterday.
Stockholm-based iD2 Technologies makes public key infrastructure (PKI) products that enable users to send and receive encrypted messages. The company develops software that combines public keys with smart cards. These products can then be used for electronic commerce applications, SAP said. iD2 Technologies will also develop interfaces between its own products and those of SAP's own security interfaces, supplementing the security concept of SAP's own software, SAP said.
The Swedish company's security products are compliant with the European signature directive and Germany's digital signature laws, SAP said.
SAP Ventures provides funding for companies with promising technologies within SAP's strategic environment, with a main focus on companies that develop Internet-based software products, according to SAP.
Other recent investments of SAP Ventures have included Linux distributor Red Hat Software, MarketFirst Software, which makes software designed to help companies sell on the Web, and Streamline, a Westwood, Massachusetts-based company that lets consumers buy a wide variety of consumer goods over the Internet.