DigiCert, Inc., backed by Clearlake Capital Group, Crosspoint Capital, and TA Associates, has acquired Internet of Things (IoT) cyber security provider Mocana. The combination of Digicert and Mocana technologies provides IoT manufacturers and operators with a comprehensive platform for managing security across the full IoT device lifecycle. Terms of the transaction were not disclosed.
The acquisition strategically accelerates Digicert’s presence in the fast-growing IoT market. IDC estimates there will be more than 55 billion connected devices by 2025, with growth fuelled by organisational investment in IoT platforms for achieving operational efficiency, digital transformation and competitive differentiation.
“IoT security has been a challenge for device manufactures and operators,” said Digicert CEO John Merrill. “With the addition of Mocana, Digicert is building on its vision for delivering digital trust, a growing necessity in the IoT market as smart devices become ubiquitous in every corner of our personal and professional lives. We are excited to introduce new and existing customers to our integrated platform and welcome the addition of Mocana’s expertise in IoT technology and the industrial and manufacturing verticals to the Digicert team.”
“We have had a strategic partnership with Mocana for years and truly value their contribution to our product portfolio,” said James Kline, senior director of program management at ABB Inc. “We are excited about the backing from Digicert as a global leader in IoT security.”
The combination of Digicert and Mocana provides customers with a means to manage device identity, secure connections, prevent device tampering, and update firmware and settings remotely and securely once in the field. This end-to-end platform reduces security vulnerabilities and enables digital transformation that is made possible from information technology (IT) and operational technology (OT) convergence.
“Mocana is excited to be joining the Digicert team,” said Mocana CTO Srinivas Kumar. “Together, our solutions uniquely solve the challenges of IoT security, from embedding security protections on-chip or at device manufacturing to on-device secure communications and firmware updates once in the field.”