Entrust Datacard, a provider of identity and secure transaction technology solutions, has agreed to purchase Thales’ general purpose hardware security module (GP HSM) business nCipher Security for an undisclosed sum.
nCipher is a stand-alone entity within Thales.
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The latest deal is the result of Thales’ proposal to acquire Gemalto.
Watchdogs demanded the sale of the GP HSM business in order to ward off competition concerns that are believed to arise from the Gemalto acquisition.
GP HSMs are said to be a “core component” of Entrust Datacard solutions and part of its public key infrastructure and secure socket layer propositions.
According to Entrust Datacard, the deal will enable it to comply with increased data security demands due to regulations including the EU General Data Protection Regulation (GDPR).
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By GlobalDataEntrust Datacard president and CEO Todd Wilkinson said: “This acquisition is an excellent complement to our expertise in both cryptography and hardware and will extend our ability to meet the evolving security needs of our customers globally while allowing us to accelerate our own growth.”
Welcoming the deal, nCipher CEO Cindy Provin said that the two parties have “powerful synergy”.
The transaction is expected to close in the second quarter of this year.
It is currently pending regulatory approvals and the completion of Gemalto’s takeover by Thales.
Entrust Datacard did not reveal how much it paid for the acquisition.
