DigiCert announces acquisition of IoT cybersecurity provider Mocana
DigiCert, the provider of TLS/SSL, IoT and other PKI solutions, and backed by Clearlake Capital Group, Crosspoint Capital and TA Associates, has announced that it has acquired internet of things (IoT) cybersecurity provider Mocana.
The combination of DigiCert and Mocana technologies provides IoT manufacturers and operators with a comprehensive platform for managing security across the full IoT device lifecycle. Terms of the transaction were not disclosed.
The acquisition strategically accelerates DigiCert's presence in the fast-growing IoT market, the company states.
IDC estimates there will be more than 55 billion connected devices by 2025, with growth fuelled by organisational investment in IoT platforms for achieving operational efficiency, digital transformation and competitive differentiation.
DigiCert CEO John Merrill says, “IoT security has been a challenge for device manufactures and operators. With the addition of Mocana, DigiCert is building on its vision for delivering digital trust, a growing necessity in the IoT market as smart devices become ubiquitous in every corner of our personal and professional lives."
Merrill says, "We are excited to introduce new and existing customers to our integrated platform and welcome the addition of Mocana's expertise in IoT technology and the industrial and manufacturing verticals to the DigiCert team.
ABB senior director of program management James Kline says, “We have had a strategic partnership with Mocana for years and truly value their contribution to our product portfolio. We are excited about the backing from DigiCert as a global leader in IoT security.
According to the company, the combination of DigiCert and Mocana provides customers with a means to manage device identity, secure connections, prevent device tampering, and update firmware and settings remotely and securely once in the field.
This end-to-end platform is designed to reduce security vulnerabilities and enables digital transformation that is made possible from information technology (IT) and operational technology (OT) convergence.
Mocana CTO Srinivas Kumar says, “Mocana's excited to be joining the DigiCert team.
"Together, our solutions uniquely solve the challenges of IoT security, from embedding security protections on-chip or at device manufacturing to on-device secure communications and firmware updates once in the field."
DigiCert is a global provider of TLS/SSL, PKI, and security solutions that enable digital trust for data, devices, code, documents and users. The company is focused on modernising the way PKI is managed with the DigiCert ONE platform.
DigiCert ONE reimagines PKI to address all certificate-based security use cases with flexible, scalable and automated workflow managers, including the TLS certificate manager, CertCentral.
Clearlake Capital Group is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. Crosspoint Capital Partners is a private equity investment firm focused on the cybersecurity, privacy and infrastructure software markets, and TA Associates is a global growth private equity firm focused on targeted sectors within five industries technology, healthcare, financial services, consumer and business services.