Keyfactor, an Independence-based cybersecurity firm, said it has completed a previously announced merger with a Swedish company, PrimeKey, that's instrumental in its goal of helping to "bring machine identity management to the mainstream.
Terms of the merger were not disclosed. The merged company will operate under the Keyfactor brand, according to a news release. (Go here for a Keyfactor-produced list of FAQs about the merger.)
The companies in 2020 announced what they characterized as a "technology integration partnership." With the merger, Keyfactor said in the release, the combination of the companies' technologies creates an "end-to-end machine identity management platform — with flexible and highly scalable certificate issuance and automated deployment of machine identities across complex enterprise and emerging IoT and OT use cases."
Jordan Rackie, CEO of Keyfactor, said in a statement, "Over the past 18 months, we've built strong relationships with the PrimeKey leadership team, which ultimately led us" to the merger."
He said the companies "share a history rooted in cryptography and a relentless commitment to customer service and satisfaction. ... This merger truly brings machine identity management to the forefront — and to the enterprise."
Keyfactor has about 170 employees, and PrimeKey has about 100. The privately held companies do not disclose annual revenues.
Completion of the merger is the latest development in what's shaping up to be a big year for Keyfactor.
In April, the company raised $125 million in new funding in a round led by Insight Partners, which made an initial $77 million investment in Keyfactor in 2019.
Gloss