Digital authentication provider Entrust has acquired Business Signatures, makers of fraud detection and prevention solutions, for $50 million, the two companies announced Thursday.
The acquisition will enable Entrust – makers of the IdentityGuard authentication platform – to better serve customers seeking compliance under Federal Financial Institutions Examination Council (FFIEC) guidelines, according to a statement. The rules state organizations must deploy stronger security measures for online users.
"Because of implementation difficulty, organizations are moving away from hardware solutions and choosing software that is easy to get up and running and doesn't interrupt the users' experience," Entrust Chairman and CEO Bill Conner said in a statement.
Redwood City, Calif.-based Business Signatures offers its eFraud solution, which provides real-time fraud detection without administrators being forced to make changes to the business application, the statement said.
Entrust, based in Addison, Texas, believes Business Signatures will generate $3 to $4 million in revenue for the remainder of the year and approximately $10 million over the next 12 months, the statement said.