According to industry observers, the merger combines two experts in cloud-based security solutions creating a software-based security powerhouse.
Security solutions provider for mobile and connected devices, Inside Secure has entered into an exclusivity agreement to acquire California-based Verimatrix, Inc.
Verimatrix which employs more than 300 people in 20 countries, with most significant operations in California and in Germany, is a software security provider for video services. The company extends its technical innovation for video providers by offering data collection and analysis platform for automated real-time quality of experience (QoE) optimisation that drives security performance monitoring, user engagement and content monetisation.
Commenting on the proposed transaction, Amedeo D’Angelo, Chairman and CEO of Inside Secure, said: “Over the years, we have built a unique position to bring security at the heart of connected devices and apps with a leading position in the OTT video services market. Verimatrix has become a key player in software-based security for entertainment content management through its scalable and comprehensive platform with a deep expertise in cloud-based data analytics and intelligence on security performance and video users behaviours. In this context, Im very pleased to move ahead with the project to acquire Verimatrix which is the perfect fit to strengthen scale and reach of our value proposition in end markets that are fast shifting towards software and cloud-based security solutions while video content consumption is becoming multi-device and multi-format. We are looking forward to combining both businesses to offer our clients the best value proposition in security, starting with entertainment and moving towards Internet of Things and Connected Cars, and to continue to create value for our shareholders.
Tom Munro, CEO of Verimatrix, Inc., added: “This transaction allows a great combination of technologies and expertise, bringing two well-respected market players together. It’s exciting to create a company with such a clear focus, a global presence, and a depth of expertise in the applications of security and analytics across critical market segments.”