Data security company Cryptosoft has acquired DeviceAuthority Inc, a provider of authentication technology. This transaction follows the October 2015 strategic partnership formed between the two entities, which expanded Cryptosoft’s Internet of Things (IoT) data security offering to clients.
Freemont, California-based DeviceAuthority’s D-Factor authentication engine identifies devices to establish trust between endpoints, gateways and applications. London-based Cyrpotsoft’s platform tackles the data security and authentication challenges for the IoT to protect sensitive company and customer data assets. This combination positions the company as an advanced policy-based security platform that can provide a scalable device authentication solution to manage hundreds of thousands of client devices, and policy driven data centric encryption technology.
“Both companies coming together further advances our strategy of providing customers with the most reliable, cost-effective IoT security solution, through a comprehensive portfolio of products”, says Darron Antill, CEO of Cryptosoft.
Middle-market M&A activity has seen healthy input from deals in the technology sector, particularly cybersecurity. In March, SuperCom (Nasdaq: SPCB), which sells secure-ID and secure payment solutions acquired encryption and data theft protection software company Safend Ltd. Also completed this year were cybersecurity firm FireEye Inc.’ (Nasdaq: FEYE) acquisition of competitor iSight Partners and cybersecurity provider Thycotic purchase of Windows protection software company Arellia.