Identiv reaches deal to acquire mobile security software developer Thursby
Identiv has reached an agreement to acquire mobile device security software provider Thursby Software Systems to strengthen its identity offerings with complete solutions for logical access across smart cards and derived credentials on iOS and Android devices.
Thursby software supports BYOD and two-factor authentication on mobile devices, and enables the use of iOS and Android devices with DoD Common Access Cards and federal government Personal Identification Verification (PIV) cards. Among the more than one million software licenses Thursby has sold to a range of customers in healthcare, finance, energy, education, the Fortune 500, and the Global 2000 are more than 100,000 U.S. DoD and federal government employees.
“This combination substantially strengthens our position as a trusted provider of convenient high-security solutions to government and enterprise customers,” said Steven Humphreys, CEO of Identiv. “Thursby has built deep, long-standing customer relationships, completely aligned with our strategy of providing secure software platforms that are customizable to specific customer preferences. Thursby’s solutions truly deliver beyond its customers’ expectations, providing both high security and terrific end-user convenience. The company’s deep government strengths and mobile app expertise are core elements in our vision for federal and commercial security solutions. Thursby’s seamless support of both government-grade smart card deployments and derived credentials also aligns with our philosophy of supporting customers’ adoption of technologies at their own pace, optimized for their own use cases. We believe this accretive acquisition is a strategic step that moves us closer to achieving our long-term target business model, generating higher margins, improving profitability, and delivering a solutions platform that transforms our industry.”
Bill Thursby, President and Founder of Thursby Software Systems, commented: “In our 32 years, we have prided ourselves as being a leader in technology while remaining small and responsive. By becoming part of the Identiv family, we will retain our strengths while taking on the additional benefits of a large international company with an excellent reputation. We first partnered with Identiv in 2011 as both a supplier of smart card readers and a customer by adding the Thursby Sub Rosa license to the Identiv mobile reader line-up. We are excited to be joining the Identiv team who shares our passion for bringing together security and innovation for our customers.”
The deal is subject to the usual closing conditions, and is expected to close on or around November 1, 2018.
Identiv’s contact and contactless smart card reader technology was integrated with the Corvus Tetrad biometric border patrol product earlier this year.