Anti-virus and internet security company Avast has announced the acquisition of SecureKey Technologies, expanding its identity portfolio
Expected to close in early April 2022, with availability for Avast customers following in Q2, the acquisition of SecureKey by Avast will see the anti-virus provider look to further disrupt the growing identity space.
According to digital identity consultants Liminal, identity, authentication and reusable digital identity services are expected to grow to $266 billion by 2027, with the private sector set to capture the majority of this growth.
Canada-based SecureKey privacy-enhancing services focus on providing users with simplified online access, while enabling control over data through only allowing for sharing of information when explicit consent is granted.
The prospective Avast subsidiary, which enables over 200 million secure digital ID transactions a year globally, deals in the government, healthcare, and financial account opening spaces, utilising secure digital versions of user credentials.
Services developed by SecureKey include distributed identity verification network Verified.Me and Government Sign-In by Verified.Me, both of which are provided by Interac Corp. under an exclusive Canadian licensing arrangement.
“The maturity of the SecureKey hybrid federation, bank ID, and decentralised technology suite, and history of strong operational delivery in Canada for discerning financial services and government customers & partners, position Avast for geographic expansion,” said Charles Walton, general manager and senior vice-president, identity at Avast.
“As the European community is investing in public-private sector digital identity infrastructure in 2022 and beyond, we see Avast well positioned as a collaborative provider of digital trust services for people, digital businesses and government.
“Success for us is where digital identity becomes simple, user-centric and portable, and can enable a more trustworthy digital experience and deeper online engagement benefiting both people and business.”
Greg Wolfond, CEO of SecureKey, commented: “SecureKey’s vision has been to revolutionise the way consumers and organisations approach identity and the sharing of personal information in the digital age.
“By working closely with governments, financial institutions and businesses, we have an established track record of trusted and mature identity networks that provide consumers with the secure digital capabilities they deserve.
“Combining forces with Avast enables us to innovate further and faster with our technology as we together look to build a more trustworthy future for all internet users.”
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