Datacard Group finalizes Entrust Inc. acquisition
The terms of the deal have not been disclosed.
“Today we are pleased to announce the proposed combination of two market pioneers with one ambitious goal – helping out customers and partners reduce complexity while strengthening trust,” Todd Wilkinson, president and CEO of Datacard Group said. “Connectivity is redefining physical and digital boundaries. For our customers and partners, this means opportunity, but also significant complexity. For years tha paths of our companies have intertwined as we served customers – often the same financial and government customers – from different points within the technology spectrum. Those paths now converge to bring powerful new innovations in secure identity to enable trust while reducing complexity in deployment, management and use.”
According to the two companies, the new combined entity will employ nearly 2,000 people and will enable its customers to issue more than 10 million physical identities daily, and to handle 200 billion transactions per year.
“Entrust is firmly established as a leader in identity-based security. We take this position very seriously, and because of that it was important that we find the right partner,” Bill Conner, president and CEO of Entrust said. “As a result of our deliberate shift to a SaaS-based business model, a significant portion of Entrust’s revenue is recurring, positioning it well for growth. I’m confident both Entrust and Datacard customers will realize value from our companies’ combined expertise.”
Datacard also plans to accelerate investments in personalization, identity and credentialing solutions.
Reported previously in BiometricUpdate.com, the Canadian Bank Note Company recently awarded a contract to Datacard Group to deliver passport printer technology to Passport Canada to issue new ePassports in the country.