Authentify Acquires Authentication Technology Firm Hawk and Seal Inc.
Following a record 2010 for customer acquisition and revenue growth, Authentify strengthens its position in mobile authentication and funds transfer verification markets via acquisition.
CHICAGO – March 7, 2011— Authentify today disclosed the completion of its acquisition of Hawk and Seal Inc. along with its portfolio of authentication intellectual property, in an all stock transaction. "We are reinvesting proceeds from our recent successful years to offer our customers additional weapons in the war on cyber criminals," said Peter Tapling, Authentify's President and CEO. "The Hawk and Seal technology complements our core phone-based authentication products while adding key strategic capabilities. The combined technologies will offer very effective protection even when a user's computer has been compromised by sophisticated malware such as the Zeus, SpyEye and Carberp."
Authentify's current products provide phone-based, out-of-band authentication schemas. They are used to add strong 2-Factor authentication for end user logons, transaction detail verification and/or other account tampering alerts. The Hawk and Seal technologies provide several additional mechanisms for end users to review and approve transactions "in flight" via traditional internet/Web or mobile channels.
Ravi Ganesan, Hawk and Seal's founder, is joining Authentify's management team as Chief Scientist and is excited at the prospects for the combined technologies. "The rapid advances in online and mobile commerce are being tempered by equally rapid advances in crimeware. A new generation of authentication tools is needed to authenticate legitimate users and give them greater involvement and control at the transaction level. Our two technology bases combine to form that next generation of tool."
About Ravi Ganesan
Ravi is an information technology entrepreneur and business executive with over twenty years of progressive leadership experience. His career includes posts as Vice President of Distributed Operations for Verizon, Vice Chair and Chief Technology Officer at CheckFree Corporation and founder/CEO of TriCipher a leading provider of security technology to the financial services industry. He currently also serves as an Operating Partner at The Comvest Group, a leading private equity firm.
Ravi holds a Ph.D. from The Johns Hopkins University, an M.S. from the University of Maryland Baltimore County and a B.E. from Anna University. He is also a successful innovator holding more than twenty patents with another fifty patent applications pending.
About Authentify, Inc.Authentify, Inc. is the leading provider of telephone-based, out-of-band authentication services. These services enable organizations that need strong security to quickly and cost-effectively add 2-factor or 3-factor authentication layers to user logon, transaction verifications or critical changes such as adding a payee to an e-pay or wire account. The company's patented technology employs a service oriented message architecture and XML API to seamlessly integrate into existing security processes. Authentify markets primarily to financial services firms that need to protect their clients' online accounts, corporate security professionals managing corporate access control, and e-merchants who want to limit fraud on their sites.
Many of the most familiar names on the Internet, including those offering online banking, e-payments, broad range e-commerce and Web services use Authentify. Visit Authentify at: www.authentify.com or contact:
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© March 2011, Authentify, Inc.
Authentify is protected by numerous U.S. and International patents including:
U.S. PATENT NOS. 6,934,858 / 7,383,572 / 7,461,258
