California based Identiv Inc., formerly known as Identive Group Inc, has made it official that it is going to acquire mobile security offering company Thursby Software Systems. The financial details of the deal are yet to be known, but analysts say that the deal will strengthen the former’s logical access across smart cards and derived credentials on Apple iOS and Google Android devices.
Thursby is known to offer solutions supporting BYOD and 2-factor authentication on mobile devices running on iOS and Android operating systems. The company has so far managed to build deep and long-standing customer relationships by offering security-related software across private and federal government entities.
Source say that the Texas-based security software solutions provider has managed to sell one million software licenses to a range of customers hailing from healthcare, finance, energy, education and to a few standing tall among the Fortune 500 list.
Thursby software seeking customer list includes over 100,000 employees from US Department of Defense and other fed agencies.
Identiv, Inc is known to provide security technologies that secure data, physical places and things. Thursby’s acquisition is said to provide the company a strategic step to move closer to achieving its innovative business model, will help in generating higher profit margins by improving profitability and will help deliver solution platforms that help transform the business of security industry.
Note- Identiv’s acquisition of Thursby is subjected to the usual closing conditions and is expected to close on or around October 28th, 2018.