Entrust Datacard completes acquistion of hardware security firm nCipher from Thales
Entrust Datacard said it completed its acquisition of nCipher Security from Thales, a deal that gives it one of the leading general purpose hardware security modules.
Thales was required to sell nCipher Security as part of its previously announced deal to acquire Gemalto and nCipher has been operating as a stand-alone business within Thales since January. Terms of the agreement were not disclosed.
"We are extremely pleased to complete this acquisition and bring nCipher's exceptional talent and technology into the Entrust Datacard portfolio," Todd Wilkinson, president and CEO of Entrust Datacard, said in a company release. "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."
Cindy Provin, CEO of nCipher Security, said her company is excited to join the Entrust Datacard team.
"This acquisition quickly expands the global footprint for nCipher solutions and accelerates our strategy for 'as-a-service' offerings," she said. "HSM's provide a foundation of trust for business applications such as PKI, blockchain, mobile payments and code signing."
Entrust said that the hardware security module business has been growing rapidly due to increased customer demand for stronger data and application security, increased encryption as well as privacy regulations like the EU General Data Protection Regulation and the electronic identification, authentication and trust services regulation.
The companies said that more than 300 nCipher employees are now part of the Entrust Datacard team and that nCipher would continue to operate out of Sunrise, Florida. The company also has a cybersecurity development center in Cambridge, U.K. and a sales support center in Hong Kong.