Entrust Datacard announces the acquisition of nCipher Security – Thales’ data security business

BFSI News

Entrust-Datacard-announces-the-acquisition-of-nCipher-Security-–-Thales’-data-security-business Entrust Datacard announces the acquisition of nCipher Security – Thales’ data security businessEntrust Datacard, formerly Datacard Group, — a provider of identity and secure issuance technology to organizations, headquartered in Minneapolis, MN, recently as per a press release statement, entered into a definitive agreement with Thales Group to acquire nCipher Security, Thales e-Security, Inc.’ general purpose hardware security module (HSM) business.

The HSM specialist, nCipher Security, which was part of Thales e-Security, Inc. for 11 long years, was operating as a separate stand-alone business within Thales since Jan. 2019.

According to Todd Wilkinson, president, and CEO of Entrust Datacard, the nCipher acquisition is an excellent complement to Entrust’s expertise in the fields of cryptography and hardware.

And as per Cindy Provin, CEO of nCipher Security, owing to a powerful synergy between the two organizations’ solutions and further combination of their forces will embark their customers on an accelerated path to innovations and initiatives such as mobility, cloud and IoT to help their businesses flourish and simultaneously strive for data security and manage the ever-growing cyber risk.

The Minneapolis headquartered organization says the general purpose hardware security modules (HSMs) are something core and fundamental to the security infrastructure of the company’s public key infrastructure (PKI) and secure socket layer (SSL) offerings.

With this acquisition, Entrust can address the increased data security stemming demands from regulations such as the electronic identification, authentication and trust services (eIDAS) regulation and the EU General Data Protection Regulation (GDPR).

The financial details of the said acquisition deal, which is to be finalized in Q2 2019, were not disclosed.