PGP has agreed to acquire German security vendor TC TrustCenter and its U.S. parent company, ChosenSecurity, for an undisclosed sum of money.
ChosenSecurity and TC TrustCenter provide an on-demand platform for managing trusted identities for encryption, authentication and secure collaboration, and is used to help secure trusted electronic transactions across individuals, servers and mobile devices. According to Enterprise Strategy Group analyst Jon Oltsik, the buy gives PGP an "enabling technology for secure trusted Internet communications."
"Internet transactions depend upon a foundation of trust," Oltsik said in a statement. "With its acquisition of TC TrustCenter and ChosenSecurity, PGP Corporation is establishing itself as a provider of globally trusted identities for not only its own applications, but other high value applications and transactions."
When the deal is complete, ChosenSecurity and TC TrustCenter will continue to sell and support their existing products as well as develop new offerings that integrate with PGP's product line.
"Trusted identities are a crucial component for data protection solutions that secure sensitive data," said Phillip Dunkelberger, PGP's CEO, in a statement. "With this acquisition, PGP Corporation is gaining an extensible platform that will dramatically accelerate its vision of delivering integrated data protection across vendors, technologies, and devices."