Intercede, an identity and access management (IAM) solutions provider, has acquired password management and multi-factor authentication (MFA) company Authlogics for an undisclosed sum.
This is technology M&A deal number 900 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Intercede, founded in 1992, is based in Lutterworth, U.K. The company has 102 employees listed on LinkedIn. Intercede's areas of expertise include identity and mobile credential management.
Authlogics, founded in 2016, is based in Bracknell, U.K. The company has eight employees listed on LinkedIn. Authlogics' areas of expertise include passwordless security and authentication.
Intercede Expands Its Product Portfolio
The Authlogics acquisition allows Intercede to deliver "authentication options from 'Passwords to PKI (public key infrastructure),'" the companies said.
Authlogics provides an MFA product and system agents that allow Intercede to "address the needs of those customers who require a range of strong authentication options that are simpler to deploy than PKI or FIDO," the companies stated.
These options include:
- Hardware-based one-time passwords (OTP) using YubiKey devices
- A mobile phone app
- Email/SMS of one-time password codes
The Intercede-Authlogics product portfolio is available to existing and new customers as standalone products, the companies indicated. Authlogics' products also will be integrated into a product suite that allows Intercede to offer an authentication solution that lets end-users manage multiple authentication methods from a single console.
Intercede Announces Identity Proofing Services Partnership
The Authlogics acquisition comes after Intercede in October 2022 partnered with NextgenID, an identity proofing, credential management and e-government services company. Intercede and NextgenID are providing self-guided and remote identity proofing services to government and business services, the companies said. They showcased these services at the Identity Week America 2022 Conference in Washington, D.C.
Intercede is taking steps to extend its reach in the global IAM market. Other cybersecurity companies look poised to do the same in the months and years to come.
The global IAM market is expected to be worth $34.52 billion in 2028, which represents a 14.5% compound annual growth rate (CAGR) from 2021, Forbes Business Insights reported. In addition, there have been at least 20 mergers and acquisitions that have involved IAM companies dating back to June 2017.
