& cplSiteName &

INSIDE Secure Acquires Metaforic

Light Reading
News Wire Feed
Light Reading
4/7/2014
50%
50%

AIX-EN-PROVENCE, France -- INSIDE Secure (NYSE Euronext: INSD), a leader in embedded security solutions for mobile and connected devices, today announces that it has acquired Metaforic, a leader in the development of software obfuscation technologies and encryption-related security software for a variety of industries, including the mobile payment and mobile banking markets. Such Metaforic’s technologies are critical to securing Host Card Emulation (HCE)-based mobile payments, mobile wallets and mobile banking applications. A venture capital-backed company, Metaforic has headquarters in Scotland and operations in Silicon Valley (California).

The Supervisory Board of INSIDE Secure has unanimously approved this transaction.

By leveraging INSIDE Secure’s strong security capabilities, the combined comprehensive solution will lead to additional sales, and reinforce INSIDE Secure’s position as a key player in the fast-growing mobile security solutions market, as Metaforic:

  • Complements existing INSIDE Secure enterprise secure access (Virtual-Private-Network or VPN products) and content protection (Digital Right Management or DRM products) solutions by adding mobile payments and uniquely positions INSIDE Secure as the only company able to provide security solutions for enterprise secure access, digital entertainment and financial services markets, the three key market drivers for mobile security;
  • Extends INSIDE Secure’s lead in providing the most comprehensive system solution offering (hardware, software and IP) in the security industry from secure software solutions to alternative secure element-based hardware and IP. Such solutions are designed to target smartphones and other mobile device markets and to overcome upcoming architectural and certification discontinuities in mobile security;
  • Brings an extensive, high quality security intellectual property and technology portfolio, in line with INSIDE Secure’s long-term strategy to expand its own IP licensing revenue;
  • Complements INSIDE Secure’s know-how with a talented team of highly qualified employees located in the UK and the US;
  • Expands INSIDE Secure’s customer base in the mobile and payment industries.

    At closing, INSIDE Secure paid USD 11.6 million in cash in consideration for the shares, and could pay in 2015 an additional amount of up to USD 4.5 million subject to completion of certain 2014 business milestones.

    Commenting on this announcement, Remy de Tonnac, Chief Executive Officer of INSIDE Secure, said: "The Metaforic acquisition is superbly aligned with INSIDE Secure’s strategy. Metaforic brings critical technologies to address HCE-based, cloud-based mobile payment solutions which will become mainstream following support announced by major payment brands. It will uniquely position INSIDE Secure as the only company able to provide security solutions for enterprise secure access, digital entertainment and financial services markets, the three key market drivers for mobile security.”

    Andrew McLennan, Chief Executive Officer of Metaforic, said: "We are delighted to join INSIDE Secure and bring our key software obfuscation and encryption-related security software, in order to accelerate our jointly held vision to secure all aspects of mobile life. The tight integration of Metaforic’s technology within INSIDE Secure’s offering will bring to the market the world’s most comprehensive, mobile security system solution.”

    INSIDE Secure

    (0)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    Featured Video
    From The Founder
    Light Reading is spending much of this year digging into the details of how automation technology will impact the comms market, but let's take a moment to also look at how automation is set to overturn the current world order by the middle of the century.
    Flash Poll
    Upcoming Live Events
    November 1, 2017, The Royal Garden Hotel
    November 1, 2017, The Montcalm Marble Arch
    November 2, 2017, 8 Northumberland Avenue, London, UK
    November 2, 2017, 8 Northumberland Avenue – London
    November 10, 2017, The Westin Times Square, New York, NY
    November 16, 2017, ExCel Centre, London
    November 30, 2017, The Westin Times Square
    May 14-17, 2018, Austin Convention Center
    All Upcoming Live Events
    Infographics
    With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
    Hot Topics
    Muni Policies Stymie Edge Computing
    Carol Wilson, Editor-at-large, 10/17/2017
    'Brutal' Automation & the Looming Workforce Cull
    Iain Morris, News Editor, 10/18/2017
    Worried About Bandwidth for 4K? Here Comes 8K!
    Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 10/17/2017
    Nielsen Sizes Up Netflix
    Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 10/19/2017
    Animals with Phones
    Selfie Game Strong Click Here
    Latest Comment
    Live Digital Audio

    Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

    During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

    She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

    Like Us on Facebook
    Twitter Feed
    Partner Perspectives - content from our sponsors
    The Mobile Broadband Road Ahead
    By Kevin Taylor, for Huawei
    All Partner Perspectives