American identity and technology solution provider Entrust Datacard has wrapped up the acquisition of Thales’ general purpose hardware security module (GP HSM) business nCipher Security.
The deal, which was first announced in February this year, is the result of Thales’ proposal to acquire Gemalto.
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Watchdogs demanded the sale of the GP HSM business in order to ward off competition concerns that are believed to arise from the Gemalto acquisition.
As a part of the deal, over 300 employees of nCipher have joined Entrust Datacard.
Even after the completion of the deal, nCipher Security business will continue to operate from Sunrise, Florida.
Its cybersecurity development center in Cambridge, UK and sales support center in Hong Kong will also continue to operate without any changes.
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By GlobalDataEntrust Datacard CEO and president Todd Wilkinson said: “We are extremely pleased to complete this acquisition and bring nCipher’s exceptional talent and technology into the Entrust Datacard portfolio.
“The need for secure network access and data integrity continues to multiply – from mobile devices and cloud services to connected IoT devices and digital payments.
“The use of HSMs is expanding across all of these domains. With nCipher now part of our solution portfolio, customers will see benefit from our expanded offerings for the most sensitive, high assurance use cases.”
nCipher Security CEO Cindy Provin said: “nCipher is excited to join the talented Entrust Datacard team. This acquisition quickly expands the global footprint for nCipher solutions and accelerates our strategy for ‘as-a-service’ offerings.
“HSMs provide a foundation of trust for business applications such as PKI, blockchain, mobile payments and code signing. As a single company, Entrust Datacard is positioned to effectively secure our customers’ sensitive information and business critical applications as they implement new digital initiatives.”
GP HSMs are said to be a “core component” of Entrust Datacard solutions and part of its public key infrastructure and secure socket layer propositions.
Entrust Datacard hopes that this deal will enable it to comply with increased data security demands due to regulations including the EU General Data Protection Regulation (GDPR).
