Vasco Data Security International Inc. has moved to strengthen its position in the information security market by acquiring Intellisoft Corp. of Acton, Mass.
Intellisoft provides single-sign-on, Web authorization, public key infrastructure, and related security systems to major corporations including John Hancock, 3M, Liberty Mutual, and Allmerica Financial. Vasco, which does particularly well in the European banking market with its Digipass electronic authentication devices, gains a blue-chip domestic customer base.
Terms of the transaction, completed in early October, were not disclosed. Vasco said it drew on proceeds from an equity financing earlier this year.
Jonathan Chinitz, vice president and general manager of Vasco's Intellisoft division, said it excels at delivering comprehensive "enterprise security solutions" without requiring "changes or replacements to existing applications. We provide the glue that easily and effectively binds together all security technologies throughout the corporate enterprise, and we do it with 100% transparency."