Mergers & Acquisitions

Mergers & Acquisitions

January 03, 2012

Identive Acquires Outstanding Shares of idOnDemand

Identive Group has announced that the company has entered into agreement to acquire the remaining outstanding shares of idOnDemand, Inc. held by ActivIdentity (News - Alert) for a sum of $500,000.

idOnDemand will be a wholly-owned subsidiary of Identive upon consummation of the share purchase. idOnDemand delivers a standards-based, single trusted identity and smart card solution. Organizations can simply and cost effectively grant employees, customers and partners secure access to information and assets such as IT systems, encrypted data, secure email, remote access, mobile resources and multiple buildings using the idOnDemand managed identity service. Authorized users no longer need to carry multiple tokens, ID cards, building access cards or remember multiple passwords.

“As we expand our R&D investment in SaaS (News - Alert) and gear up to launch our cloud-based secure NFC platform, we view full ownership of idOnDemand to be strategically important and we are pleased to have been able to reach this agreement," stated Ayman S. Ashour, Chairman and CEO of Identive in a company press release.

Identive acquired more than 95 percent of the shares of stock of idOnDemand, Inc. on May 2, 1011 as previously announced. Delivering a managed identity service that allows organizations to use a single, globally trusted credential for secure access to buildings, computers, mobile devices and corporate information stored in the cloud, idOnDemand is a pioneer of the Software as a Service (SaaS) business model, based in California, the company stated in a press release. 

Recently, the company unveiled new product branding. The new branding is aimed at leveraging the growing breadth and depth of the company's technology and solutions across the value chain of the Secure ID market. The announcement was made at the 2011 CARTES & IDentification exhibition. As part of the new strategy, Identive will use a new corporate logo, emphasizing the company's focus on providing products, services and solutions along the entire Secure ID value chain.

Raju Shanbhag is a contributing editor for TMCnet. To read more of Raju’s articles, please visit his columnist page.

Edited by Rich Steeves

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