{"id":2359,"date":"2020-02-24T09:36:00","date_gmt":"2020-02-24T01:36:00","guid":{"rendered":"https:\/\/progreso.com.sg\/?post_type=all_news&p=2359"},"modified":"2021-04-21T13:30:37","modified_gmt":"2021-04-21T05:30:37","slug":"utimaco-to-expand-portfolio-in-key-management-by-acquiring-geobridge-corporation","status":"publish","type":"all_news","link":"https:\/\/www.progreso.com.sg\/newsite\/all_news\/utimaco-to-expand-portfolio-in-key-management-by-acquiring-geobridge-corporation\/","title":{"rendered":"News: Utimaco to expand portfolio in key management by acquiring GEOBRIDGE Corporation"},"content":{"rendered":"\t\t
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Aachen, Germany & Campbell (CA), USA, February 24, 2020<\/strong> \u2013 Utimaco, a leading global provider of IT security solutions, announced today an agreement to acquire GEOBRIDGE<\/a> Corporation. This acquisition will expand Utimaco\u2019s key management portfolio for the financial industry. Upon the closing of the acquisition, GEOBRIDGE\u2019s employees and customers will be integrated into Utimaco\u2019s Information Security business<\/a> and solutions to offer enhanced solutions and services to Utimaco and GEOBRIDGE customers.<\/p>

The combination of GEOBRIDGE with Utimaco\u2019s businesses will enable key injection at the point of sale and key management as a service. GEOBRIDGE\u2019s KeyBRIDGE platform compliments Utimaco\u2019s Atalla product line<\/a> of hardware security modules (HSM), to build a comprehensive offering for the injection and management of cryptographic keys in a corporate context.<\/p>

\u201cThe KeyBRIDGE platform combined with our Atalla hardware security module will offer greater flexibility to financial institutions and payment providers to inject and remotely manage cryptographic keys, simplifying security for our customers even as the environment grows more complex.\u201d said Malte Pollmann, Chief Strategy Officer of Utimaco. \u201cBy acquiring GEOBRIDGE, we are taking the next step in developing Utimaco from a product vendor to a solution provider and complementing our solution portfolio in a meaningful way in order to be able to offer customers an integrated security solution.\u201d<\/p>

Founded in 1997, GEOBRIDGE has established itself as one of the first system integrators for encryption methods, and key management providers for payment solutions. GEOBRIDGE has developed a deep understanding of the challenges in the marketplace, and developed various proprietary solutions to address these challenges. GEOBRIDGE participated in the development of international standards such as ASC X9, PCI and EMVco.<\/p>

\u201cWe are extremely excited to become part of the Utimaco team,\u201c said Laura Way, Chief Executive Officer of GEOBRIDGE. \u201cUtimaco shares our commitment to providing industry leading HSM and Key Management solutions. Through this acquisition, we will be better positioned to support and provide additional services to our clients around the globe.\u201d
\u201cThe industry faces migration and interoperability challenges,\u201d added Jason Way, Chief Technology Officer at GEOBRIDGE. \u201cOur customers need to shift to Advanced Encryption Standard or AES and adoption of key bundling while maintaining support for derived unique key per transaction (DUKPT) with a solution that is already validated for compliance through 2026. Together with Utimaco we have a valuable head start in meeting the challenges of the future.\u201d<\/p>

The closing of Utimaco\u2019s acquisition of GEOBRIDGE is expected in the first quarter of 2020, subject to the satisfaction of customary closing conditions, including receipt of government approval and necessary third-party consent.<\/p>

Reference:
Utimaco to expand portfolio in key management by acquiring GEOBRIDGE Corporation<\/a><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Aachen, Germany & Campbell (CA), USA, February 24, 2020 \u2013 Utimaco, a leading global provider of IT security solutions, announced today an agreement to acquire GEOBRIDGE Corporation. This acquisition will expand Utimaco\u2019s key management portfolio for the financial industry. Upon the closing of the acquisition, GEOBRIDGE\u2019s employees and customers will be integrated into Utimaco\u2019s Information […]<\/p>\n","protected":false},"featured_media":0,"template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.progreso.com.sg\/newsite\/wp-json\/wp\/v2\/all_news\/2359"}],"collection":[{"href":"https:\/\/www.progreso.com.sg\/newsite\/wp-json\/wp\/v2\/all_news"}],"about":[{"href":"https:\/\/www.progreso.com.sg\/newsite\/wp-json\/wp\/v2\/types\/all_news"}],"version-history":[{"count":6,"href":"https:\/\/www.progreso.com.sg\/newsite\/wp-json\/wp\/v2\/all_news\/2359\/revisions"}],"predecessor-version":[{"id":4335,"href":"https:\/\/www.progreso.com.sg\/newsite\/wp-json\/wp\/v2\/all_news\/2359\/revisions\/4335"}],"wp:attachment":[{"href":"https:\/\/www.progreso.com.sg\/newsite\/wp-json\/wp\/v2\/media?parent=2359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}