Just months after buying IdenTrust, private-equity firms Parallax Capital Partners and StepStone Group have offloaded the digital identity authentication firm to Swedish lock manufacturer Assa Abloy. The Group has boosted their leading position in areas such as access control, identification technology, entrance automation and hotel security with the acquisition of IdenTrust. 

IdenTrust provides advanced cryptology systems, recognized by global financial institutions, government agencies and corporations around the world. IdenTrust is both a Trust Framework and an Identity Provider. Solutions are based on Public Key Infrastructure (PKI). 

“The acquisition of IdenTrust complements the previous acquisition of ActivIdentity and considerably strengthens our HID Global value proposition around secure authentication, providing us with a Trust Framework for issuing, authenticating and using digital identities based on open standards,” says Denis Hébert, Executive Vice President ASSA ABLOY and Head of business unit HID Global. 

The deal has been approved by the US Federal Government and IdenTrust still retain their three bank shareholders. IdenTrust was founded in 1999 and has 63 employees. The head office is located in San Francisco. 

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CTMfile take: Finally, IdenTrust are owned by a group that understands the - old and new - secure access and identity control business and, which can really exploit their technologies and infrastructure. The competition in digital IDs and PKI infrastructure market just increased significantly, corporates can only benefit.