[August 30, 2016] |
|
Clavister Joins Forces with PhenixID, Identity & Access Management Specialist
Clavister (News - Alert) (STO:CLAV)
Clavister (Nasdaq: CLAV), a leader in high performance security
solutions, has acquired its partner PhenixID, a leading provider of
solutions for identity and access management (IAM), bringing PhenixID's
technologies and products into the Clavister group.
The purchase will enable both Clavister and PhenixID to strengthen their
solution offerings and better meet the market's growing demand for
closely integrated, secure login and identity management services.
PhenixID will continue to build upon its strengths as an IAM department
within the Clavister Group, with combined network security and IAM
solutions will use elements of Clavister and PhenixID technologies.
Opportunities to jointly develop further solutions will also be explored.
The fast-growing Internet of Things (IoT) is expected to drive strong
growth in the IAM sector in the next four years, according to a new
report from analyst, Forrester (News - Alert)*. IoT devices give hackers and criminals
a new vector from which to launch large-scale attacks, and IAM solutions
will be critical in securing access to devices, managing connectivity,
and protecting data communications between IoT devices.
Jim Carlsson, CEO of Clavister: "Both Clavister and PhenixID have
substantial strengths in their respective markets. PhenixID's solutions
are a natural fit with our own offerings, from next-generation security
gateways to embedded security solutions for smart devices, and the
collaboration will benefit our customers and our sales both in the
medium and long term. Through this acquisition we will be better able to
utilise our synergies to capitalise on fast-growing markets such as the
IoT."
Peter Laurén, CEO and Founder of PhenixID: "Since its inception,
PhenixID has gone from strength to strength and we believe that by
becoming part of the Clavister group we will be better positioned to
continue this trend. We are really looking forward to exploiting the
substantial opportunities that working more closely with Clavister will
generate."
Clavister purchased an initial 30.1% of PhenixID ID shares earlier in
2016 and is acquiring the remaining 69.9% of shares in the company once
te deal has been formally agreed by shareholders. Under the terms of
the deal the shareholders of PhenixID will become one of the larger
shareholders in Clavister. The acquisition of PhenixID will add
substantial IAM expertise and credentials to Clavister.
PhenixID reported SEK 8.2 million in revenues for the first 6 months of
2016. Full year revenues were reported at SEK 9.3 million for 2015.
Measured as a percentage of Clavister's turnover, PhenixID reported net
sales of 14% of Clavister's full-year figures for 2015. PhenixID's
profits before tax were SEK 0.9 million for the first half of 2016, and
SEK 1.5 million for the full year 2015.
The acquisition of remaining shares, held by founders and employees in
PhenixID, is based on a valuation of the company of SEK 91.5 million,
including approximately SEK 33.5 million in financial assets. The
payment by Clavister to acquire the 69.9% of remaining shares in
PhenixID will be executed through 1,210,516 shares to be issued, worth
SEK 64 million, in Clavister Holding AB to the shareholders in PhenixID.
This will make them, as an entity, the third largest shareholder in
Clavister.
There will also be an options-programme offered to the employees of
PhenixID. The acquisition and its financing with new shares, will be
conditional an approval at an extra ordinary shareholder-meeting at
Clavister.
* Vendor landscape: Identity & Access Management solutions for the IoT,
May 31, 2016
** Swedish regulatory announcement, here (https://www.clavister.com/investor-relations/investor-news/view/?pid=2284246#.V8QNi5N95hE).
About Clavister
Clavister is a leading supplier of security for fixed, mobile and
virtual network environments. Clavister is offering small and medium
enterprises, telecom operators and suppliers of "Cloud" solutions
market-leading security solutions for facing today's security threats.
The Clavister Holding AB share is listed on NASDAQ First North under the
name of Clav and has approximately 6 111 shareholders. Remium Nordic AB
is the company's Certified Advisor.
About PhenixID
PhenixID is a leading provider of solutions for identity management,
access management, secure authentication and WebSSO. PhenixID provides
solutions which enable organizations to manage their digital identities
and its resources in a safe and cost effective manner while information
quality can be maintained and protected via secure login.
In the area of identity management and access management PhenixID
provides products for role based delegated user management, report
management, alarm functions, and synchronization and creation of
accounts. In the field of authentication PhenixID's offer includes
products to provide strong authentication (MFA (News - Alert)) with support of one-time
passwords (OTP), Certificate etc. and WebSSO (federation).
PhenixID is founded by personnel from Nordic Edge. We at PhenixID have
long experience of products and solutions in identity and access
management. PhenixID has also signed a license that gives the company
the right to continue to conduct sales, development and support of
products previously developed by the software company Nordic Edge.
This information was brought to you by Cision http://news.cision.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160829006116/en/
[ Back To Mobile World Congress's Homepage ]
|