ActivIdentity, a manufacturer of authentication and credentialing solutions announced Monday that it has agreed to purchase identity credential validations solutions company CoreStreet for $20 million.
The deal, which should be completed by the end of December, is expected to add 10 percent to ActivIdentity’s revenue base, according to a statement issued by the company. The addition of CoreStreet will also strengthen the company’s product portfolio and support its goal of making ever digital interaction trustworthy.
"Customer demand for scalable identity credential and authentication management solutions is growing exponentially as organizations of all sizes strive to ensure that only authorized personnel are accessing their facilities, networks, data, or applications," said Grant Evans, chairman and CEO of ActivIdentity. "CoreStreet's solutions, talent and customers complement ActivIdentity's business and we believe they will extend our ability to deliver a comprehensive set of capabilities that enable organizations to protect against cyber-security threats and identity fraud. This deal represents the first piece in our growth strategy going forward."