Datacard Group to Buy ID Security Provider Entrust; Chad Sweet Comments

chad sweetDatacard Group has moved to build up its offerings in the electronic identity market by agreeing to acquire identity-based security provider Entrust for an undisclosed amount.

The transaction is scheduled to close on Dec. 31, pending regulatory approvals, and Entrust’s mobile and cloud security platforms will be integrated into Datacard Group’s offerings, The Chertoff Group said Tuesday.

Chertoff Capital, the group’s investment banking subsidiary, is serving as an adviser to Thoma Bravo-owned Entrust for the transaction.

Chad Sweet, co-founder of The Chertoff Group, said the company intended to help Entrust grow and accomplish a liquidity event for Thoma Bravo investors.

Entrust’s software authentication platforms work to handle identity credentials for customers’ security, physical and logical access, citizen eID program and certificate management requirements.

Datacard Group issues more than 10 million cards and 7 million smart cards daily for customers and Entrust intends for its platforms to help clients counter online and internal threats and comply with regulations.

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