HID Global, an identity solutions provider, has acquired managed public key infrastructure (PKI) services company HydrantID for an undisclosed sum. With the acquisition, HydrantID will join HID IdenTrust under HID's Identity and Access Management business.
HydrantID provides PKI-as-a-service (PKIaaS) solutions that address the network and Internet of Things (IoT) security needs of enterprises, government agencies and other organizations, according to HID. Most HydrantID systems use IP-based protocols that require PKI-based authentication to secure user identities and devices, and they are expected to be online next year.
In addition, HydrantID automates certificate lifecycle events and distribution using industry-standard protocols and "out-of-the-box" integrations with common enterprise network software and platforms, HID said. This ensures organizations can use HydrantID PKIaaS to deploy certificate-based authentication and encryption to protect data and IoT devices.
A Closer Look at PKI
PKI leverages digital signature technology to verify user identities and devices. It requires a user to digitally sign documents certifying that a particular cryptographic key belongs to a particular user or device. Then, this key can be used as an identity for the user across digital networks.
Furthermore, certificate authorities (CAs) issue digital credentials used to certify user identities and devices relative to PKI. CAs also emphasize the use of physical and logical controls to ensure PKI user identities and devices are protected against cyberattacks.
Global demand for PKI solutions is expected to increase in the years to come.
The global PKI solutions market is projected to expand at a compound annual growth rate (CAGR) of 21.1 percent between 2018 and 2023, Market Research Future reported. Also, this market could be worth nearly $2 billion by 2023.