Investment firm Volaris Group Inc. today revealed that it has acquired identity management solutions company Hitachi ID Systems Inc. for an undisclosed price and renamed the company Bravura Security.
Founded in 1992 and formerly known as M-Tech Information Technology until acquired by Hitachi Ltd. in 2008, Hitachi ID offers a platform for managing identities, privileged access and passwords in a single solution. Touted as providing users with the tools and resources to manage risk and protect businesses, the company claims to be a reliable provider of privileged access management for day-to-day operations.
Hitachi ID’s offering includes the ability to optimize internal controls, improve user service, reduce operating costs and enhance network security. One feature, the ability to facilitate new business, is believed to allow businesses to grow and generate new revenue with the benefits of better internal processes and security.
The company primarily targets medium and large organizations with the goal of differentiating itself for each customer through “customer service, innovation, adaptability and pricing”. Notable clients include Ohio National Financial Services, Nestle SA, DocuSign Inc., General Dynamics Corp., BlueCross BlueShield, Sybase, and NCR Corp.
Volaris said it acquired what is now Bravura Security for its mission-critical software, strong market position, experienced management team, deep industry knowledge and customer focus.
Volaris is a private equity firm that buys various companies with the stated goal of “providing them with the strategic guidance and financial security needed to help them be leaders in their respective markets.”
“Bravura Security’s analyst-recognized market position, combined with its more than 20 years of experience and global customer base, has made it an attractive investment for Volaris,” said Carl Bruce, group leader at Volaris, in a press release. “This acquisition positions us to strategically develop a broader cybersecurity portfolio and gives us a footprint in the growing identity and privileged access management market.”
Bravura Security will continue to be led by current Hitachi ID CEO Nick Brown, with support from existing management and key personnel.
The acquisition is about the 55th for Volaris, according to Traxcn data. Volaris’ recent acquisitions include information technology services management company Alemba, hospital bedside communications company Hospedia Ltd. and software solutions provider Advanced Management Systems Ltd.