Identiv to Acquire Mobile Security Company Thursby Software Systems Inc.
Identiv Inc., a provider of physical security and secure identification, entered into a definitive agreement to acquire Thursby Software Systems Inc., an Arlington, Texas-based provider of security software for mobile devices. The company expects the acquisition to strengthen Identiv’s identity of offerings with complete solutions for secure and convenient logical access across smart cards and derived credentials on Apple iOS and Android mobile devices. This is a step towards Identiv’s vision of converged, highly secure yet frictionless access to information and places through a single identity and single infrastructure platform.
Thursby’s Software Systems provide security for enterprise and personal mobility, supporting bring-your-own-device and two-factor authentication on mobile devices. The company enables Department of Defense issued Common Access Cards, federally issued Personal Identification Verification cards, derived credentials and commercially issued PIV-I cards to access, sign, encrypt and decrypt information and emails from Apple iOS and Android mobile phones and tablet devices. Thursby has sold more than one million software licenses to a range of customers and industries, including government, healthcare, finance, energy, education, research, Fortune 500, Global 2000 and OEMs.
“This combination substantially strengthens our position as a trusted provider of convenient high-security solutions to government and enterprise customers,” said Identiv CEO Steven Humphreys. “Thursby has built deep, long-standing customer relationships, completely aligned with our strategy of providing secure software platforms that are customizable to specific customer preferences. Thursby’s solutions truly deliver beyond its customers’ expectations, providing both high security and terrific end-user convenience. The company’s deep government strengths and mobile app expertise are core elements in our vision for federal and commercial security solutions. Thursby’s seamless support of both government-grade smart card deployments and derived credentials also aligns with our philosophy of supporting customers' adoption of technologies at their own pace, optimized for their own use cases. We believe this acquisition is a strategic step that moves us closer to achieving our long-term target business model, generating higher margins, improving profitability and delivering a solutions platform that transforms our industry.”
"In our 32 years, we have prided ourselves as being a leader in technology while remaining small and responsive," said Bill Thursby, president and founder of Thursby Software Systems. "By becoming part of the Identiv family, we will retain our strengths while taking on the additional benefits of a large international company with an excellent reputation. We first partnered with Identiv in 2011 as both a supplier of smart card readers and a customer by adding the Thursby Sub Rosa license to the Identiv mobile reader line-up. We are excited to be joining the Identiv team who shares our passion for bringing together security and innovation for our customers.”
Identiv’s acquisition of Thursby is subject to customary closing conditions and is expected to close on or about Nov. 1.