Avast Software is set to acquire SecureKey Technologies, the digital identity and authentication (opens in new tab) specialists. The purchase will allow Avast to supplement its core interests in digital security (opens in new tab) and privacy.
SecureKey Technologies is based in Ontaria, Canada and was founded in 2008. The business produces a range of software solutions including identity and authentication management processing tools.
Its products assist in providing secure access to online services for consumers who need to interact with their banks, telecommunications firms and government agencies amongst others.
SecureKey has so far built up a portfolio of simplified secure online services (opens in new tab) and applications including Verified.Me, a first-of-its-kind, distributed digital identity verification network.
It also has Government Sign-In by Verified.Me, which delivers convenient login options to hundreds of government online services and applications.
Digital identity solutions
The company’s digital identity solutions currently allow businesses and government departments to process over 200 million secure digital ID transactions per year globally.
"SecureKey's vision has been to revolutionize the way consumers and organizations approach identity and the sharing of personal information in the digital age. By working closely with governments, financial institutions and businesses, we have an established track record of trusted and mature identity networks that provide consumers with the secure digital capabilities they deserve," said Greg Wolfond, CEO, SecureKey.
"Combining forces with Avast enables us to innovate further and faster with our technology as we together look to build a more trustworthy future for all internet users."
The market for authentication and reusable digital identity services is growing. Digital identity specialists Liminal (opens in new tab)have predicted that the sector is expected to be worth $266bn by 2027, making Avast’s move a key strategic one, helped by the convenience provided by the inherent simplicity of SecureKey's systems.
"Success for us is where digital identity becomes simple, user-centric and portable, and can enable a more trustworthy digital experience and deeper online engagement benefiting both people and business." said Charles Walton, General Manager and SVP Identity, Avast.
Although details on how much Avast is paying for SecureKey have not been divulged, the deal is expected to be completed by early next month.
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