Identiv, a physical security and access and identification solutions provider, has purchased mobile security company Thursby Software Systems for an undisclosed sum. The acquisition is expected to close November 1.
The Thursby acquisition enables Identiv to bolster its identity offerings and provide secure access across iOS and Android mobile devices, according to a prepared statement. It also supports Identiv's mission to deliver secure, frictionless access to information via a single identity and infrastructure platform.
Thursby is a Texas company that specializes in enterprise iPad, iPhone and Mac integration, management and security offerings. It provides iPhone and Android cases and readers, along with mobile apps and Mac OS X software.
In addition, Thursby offers enterprise and personal mobility solutions that support bring-your-own-device (BYOD) and two-factor authentication (2FA) on mobile devices. Thursby also provides U.S. Department of Defense (DoD) Common Access Cards (CAC), federally issued Personal Identification Verification (PIV) cards, derived credentials and commercially issued PIV-I cards that enable end users to access, sign, encrypt and decrypt information and emails from iOS and Android devices.
Thursby has over 80,000 customers in 140 countries worldwide, according to the company. Furthermore, Thursby has sold over 1 million software licenses to date, and the company has recorded multi-million annual revenues.
What Does the Thursby Acquisition Mean for Identiv?
The Thursby acquisition could help Identiv accelerate its revenue growth following a profitable second quarter of 2018.
Notable Identiv financial results for 2Q18 included:
- Total revenue of $20.3 million, up 37 percent year over year.
- 53 percent year-over-year premises revenue growth.
- 66 percent year-over-year credential revenue growth.
Identiv has projected its total revenue for 2018 to fall between $74 million and $78 million. Comparatively, the company recorded $60.2 million in total revenue in 2017, which represented a 7 percent year-over-year increase.
A Closer Look at Identiv
Identiv offers products, software, systems and services for physical and logical access control and radio-frequency identification (RFID) applications. It provides physical security and access and identification solutions to organizations across the following sectors:
Identiv today has over 5,000 customers worldwide. The company also partners with technology dealers, distributors and integrators to deliver physical security and access and identity offerings.