Exostar acquires Pirean to expand IAM reach and portfolio
Pirean’s Access: One IDaaS platform provides mobile IAM functionality to consumers and workforces in the financial services, insurance, government, energy, retail and telecom industries.
The market for IAM and IDaaS products is growing quickly and consistently, with 25 percent CAGR in certain segments, according to analyst firm KuppingerCole. Consumer IAM, in particular, is becoming one of the fastest growing segments of the IAM market.
“IAM, and consumer IAM in particular, is a vital component of our product portfolio that accelerates secure interactions for the communities we are serving today, and those we plan to serve in the future,” said Richard Addi, Exostar’s President and CEO. “Our intent is to stay a step ahead of market evolution, and that means expanding our portfolio either organically or through acquisitions like this one. Bringing Pirean into the group allows us to accelerate our product development roadmap and offer more compelling solutions to our customers in A&D, life sciences, and healthcare.”
“The Access: One platform consistently receives high praise for its flexibility, usability, simplicity, and performance,” said Stuart Wilson, Pirean’s CEO. “By becoming an Exostar-owned company, we are able to accelerate development across consumer, workforce, and mobile identity use cases. The Exostar acquisition is an exciting opportunity for Pirean, enabling us to aggressively pursue plans for geographic expansion and the ongoing development of the Access: One platform.”
The financial terms of the deal were not disclosed.