ActivIdentity Corp., a provider of strong authentication and credential management, announced that it had entered into an agreement to acquire CoreStreet Ltd., a provider of distributed identity credential validation solutions.
ActivIdentity will pay approximately $20 million, primarily cash, but also include stock and warrants. The acquisition is subject to closing conditions and is expected to be completed in December.
The acquisition of CoreStreet is intended to support ActivIdentity’s vision of making every digital interaction trustworthy by adding distributed identity credential validation solutions and physical access control products to the company’s portfolio of strong authentication and credential management offerings.
CoreStreet’s PKI certificate validation technology is deployed by public and private organizations around the world to validate the credentials of individuals as they interact with their secure IT applications, including digitally signed email and secure forms. Additionally, CoreStreet’s PIVMAN system enables authorized personnel the ability to control access to any site with confidence by quickly authenticating and validating the roles and identities of individuals wishing to enter an area.
ActivIdentity’s acquisition of CoreStreet builds upon an existing relationship between the companies. CoreStreet and ActivIdentity already partner on credential management solutions that enable government agencies and enterprises to defend against security threats and identity fraud.