Avast acquires SecureKey Technologies in the field of authentication and identity management


Avast acquired SecureKey Technologies to strengthen the company’s digital authentication and identity management portfolio.

The deal was announced Thursday. Financial details were not disclosed.

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According to the cybersecurity firm, the purchase “will expand Avast’s portfolio of identity products and services as part of its vision for digital freedom.”

Founded in 2008, the Ontario, Canada-based company is the developer of access management solutions for the enterprise. SecureKey’s software includes identity and authentication management processes – connecting consumers with banks, telecommunications companies and government agencies – to “securely and privately authenticate and assert their identity to access to the services of the participating organisations”.

The organization’s technologies emphasize the security of financial data and the processing of personally identifiable information (PII). More than 200 million digital ID transactions are handled by SecureKey each year worldwide.

“We live in a digital world, but we are forced to use outdated and flawed identity systems, with too many avenues that welcome the possibility of fraud,” says SecureKey.

SecureKey is a member of and affiliated with organizations such as The Linux Foundation, Fido Alliance, Hyperledger, and DIACC.

Fortune Business Insights estimates that the identity and access management services market will be worth $34.52 billion by 2028.

Avast CEO Ondrej Vlcek said the company “is considering[s] a global and reusable digital identity framework that will underpin a new layer of trust for the Internet,” and to achieve this goal, digital identity management needs to be further developed internationally.

Avast says the acquisition is expected to close next month, with SecureKey products becoming available to consumers under the Avast umbrella in the second quarter.

“Working closely with governments, financial institutions and enterprises, we have a proven track record of mature, trusted identity networks that provide consumers with the secure digital capabilities they deserve,” commented the CEO of SecureKey. , Greg Wolffond. “Combining our strengths with Avast allows us to innovate more and faster with our technology as we seek together to build a more trusted future for all internet users.”

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