PortWise, the identity and access management specialist, has signed an industrial co-operation agreement with around it's platform for secure access and strong authentication, which will be offered by SAAB as part of it's business area Civil Security. SAAB also invests in the company and will have an 18.75 % ownership in PortWise.
Saab has been active in the civil security market for some time, and increases its focus on the area. The investment
in PortWise is a step towards building a product portfolio within the information security sector. Saab will integrate the PortWise product suite as a proprietary and integrated offer within Saab's civil security offer. After the transaction will have an 18.75 % ownership in PortWise.
"PortWise will be granted access to a fast growing market segment with high security and performance demands",
says Håkan Rosén, head of products and acquisitions at Security
"Through this deal, PortWise will gain access to a strong long-term industrial partner who can contribute with knowledge both commercially and technically", says Mikael Jacobsson, CEO of PortWise. "Saab gets access to an important technology and a knowledge that is a key component in its civil security thrust."
Saab, through SAAB Ventures, and PortWise CEO Mikael Jacobsson will together with the largest existing shareholders,
Scope, Verdane and DFJ Esprit, provide significant expansion capital to PortWise. SAAB Ventures is a venture capital unit within Saab, which invests in small and medium size enterprises (SMEs) that contribute to Saabs future strategic plan.
For further information, please contact:
Håkan Rosén, Saab Security, +46 (0)734 181 660
Fredrik Rosenqvist, SAAB Ventures, +46 (0)734 185 485
Mikael Jacobsson, PortWise, +46 (0)706-475 810
Trusted Identity and Access Management specialist PortWise, provides a comprehensive, integrated and secure software platform protecting the integrity of employee, partner, or consumer interactions with corporate applications and data across the internet. PortWise enables organizations to protect the integrity of their systems with convenient, low-cost, mobile two-factor authentication, and in-depth device security. In a world ridden with identity theft and corporate espionage, PortWise protects over 800 organizations and 6 million users.
Further details can be found at www.portwise.com.