The merger, effective from April 2, 2008 will see M-Tech Information Technology renamed as Hitachi ID Systems, a new company launched by Hitachi as a result of the acquisition.
Having already developed IT security technologies such as finger vein biometric authentication, Hitachi believes M-Tech’s identity management technology will be an integral part of its information security offering, said Masato Saito executive general manager Information and Telecommunications Systems Group at Hitachi.
“Hitachi is increasingly focusing on its software and solution businesses in systems management and information security,” Saito said.
Idan Shoham, CTO and founder of M-tech Information Technology said Hitachi ID's administration has various existing capabilities including user provisioning, content management, single sign-on and policy enforcement.
"We play in all those spaces and the idea is to do a better job and consolidate," he said.
Gideon Shoham former CEO of M-Tech Information Technology and now CEO of Hitachi ID Systems said the identity management market looks to have lots of room for growth, citing a recent Forrester Research report which revealed the market is expected to grow from nearly US$2.6 billion in 2006 to more than US$12.3 in 2014.
Hitachi ID's headquaters will remain in Calgary, Canada with regional offices in Vancouver, Ottawa, Montreal, Toronto, Denver, Dallas, New York, Philadelphia, London and Brisbane.
Financial details of the deal were not disclosed.
RSA '08: Hitachi expands security portfolio acquires M-Tech Information Technology
By Negar Salek, live at RSA on Apr 10, 2008 2:55PM
Hitachi today announced it has acquired a majority interest in Canadian based identity management software and services vendor M-Tech Information Technology as it broadens it's place in the security space.
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