Clavister has acquired its partner PhenixID, a leading provider of solutions for identity and access management (IAM), bringing PhenixID’s technologies and products into the Clavister group.
The purchase will enable both Clavister and PhenixID to strengthen their solution offerings and better meet the market's growing demand for closely integrated, secure login and identity management services. PhenixID will continue to build upon its strengths as an IAM department within the Clavister Group, with combined network security and IAM solutions will use elements of Clavister and PhenixID technologies. Opportunities to jointly develop further solutions will also be explored.
The fast-growing Internet of Things (IoT) is expected to drive strong growth in the IAM sector in the next four years, according to a new report from analyst, Forrester*. IoT devices give hackers and criminals a new vector from which to launch large-scale attacks, and IAM solutions will be critical in securing access to devices, managing connectivity, and protecting data communications between IoT devices.
Jim Carlsson, CEO of Clavister: “Both Clavister and PhenixID have substantial strengths in their respective markets. PhenixID’s solutions are a natural fit with our own offerings, from next-generation security gateways to embedded security solutions for smart devices, and the collaboration will benefit our customers and our sales both in the medium and long term. Through this acquisition we will be better able to utilise our synergies to capitalise on fast-growing markets such as the IoT.”
Peter Laur?n, CEO and Founder of PhenixID: “Since its inception, PhenixID has gone from strength to strength and we believe that by becoming part of the Clavister group we will be better positioned to continue this trend. We are really looking forward to exploiting the substantial opportunities that working more closely with Clavister will generate.”
Clavister purchased an initial 30.1% of PhenixID ID shares earlier in 2016 and is acquiring the remaining 69.9% of shares in the company once the deal has been formally agreed by shareholders. Under the terms of the deal the shareholders of PhenixID will become one of the larger shareholders in Clavister. The acquisition of PhenixID will add substantial IAM expertise and credentials to Clavister.
