SafeNet announced that it has acquired Cryptocard, a privately held provider of cloud based authentication solutions. Financial terms were not disclosed.
With the acquisition of Cryptocard, SafeNet adds to its authentication portfolio. Cryptocard’s platform will provide an opportunity for mobile and telecom service providers, as well as IT system integrators and service providers, to introduce Auth-as-a-Service to their end users.
By combining SafeNet’s authentication solutions with Blackshield Cloud platform, SafeNet’s customers worldwide will now have access to secure, flexible and cost-effective on-premise and as-a-service solutions.
The acquisition will also expand SafeNet’s addressable market opportunity, solidifying the company’s leadership position in user authentication and strongly positioning the company to capitalize on the fast-growing Auth-as-a-Service and cloud services markets.