A Melbourne-based network security company has received a boost in the arm from US Public Key Infrastructure (PKI) vendor Entrust, and will also distribute its offerings in Australia.
Under the terms of the agreement Entrust has signed a letter of intent to invest in KNX (KeyTrust) for an undisclosed sum. The investment will be used to bolster the security integrator's staff, technical resources and potential in the market according to Greg Modra, Entrust's director for Australia and New Zealand.
Entrust has "dabbled" in the Australian market for over a year before focussing on growing its presence in the region over the last six months through establishing a partnership with KeyTrust.
"Public Key Infrastructure is one of these technologies that not a lot of companies have a good understanding of. KeyTrust is one of the handful of companies that do," says Modra on Entrust's decision to appoint KeyTrust. "[Entrust] wanted a partner it could trust, own and help them grow."
As well as the investment and license to distribute Entrust products, KeyTrust is finalising plans to become a Certificate Authority (CA). This will see KeyTrust using PKI technology from Entrust to essentially become an outsourcer to companies looking for secure online transactions and communications.
Entrust's formal entry into the Australian and New Zealand market lags competitors Baltimore Technologies and Verify Corporation. But Modra, who initiated the alliance, believes its investment in KeyTrust will bring it up to speed with the market share it has worldwide.
"We have 46.8 per cent market share of the global market, we just haven't been very active in Australia and New Zealand. This [investment] will change that," he said.
Entrust recently announced plans to create a direct presence in Hong Kong as part of its response to increased demand for Entrust products in the Asia Pacific markets.