Inside Secure Acquiring Verimatrix, Joining Two Security Leaders
Inside Secure announced it's acquiring Verimatrix, forming a security company with a range of specialties, including entertainment, internet of things, and connected cars.
StreamingMedia.com readers are well aware of Verimatrix, which is based in San Diego, California, and offers solutions that let entertainment companies secure their content while growing revenue. In 2016, it released its Operator Analytics Suite for multi-channel performance analysis. In October 2018, it added TV Everywhere authentication to its toolset by acquiring Akamai Identity Services from Akamai. Verimatrix counts over 300 employees around the world.
Inside Secure will be a less familiar name. Based in Aix-en-Provence, France, the company creates security solutions for mobile, connected devices, and networks.
Under the agreement, Inside Secure will pay $125 million for Verimatrix, as well as an estimated $18 million for transferred net cash and up to $15 million in earn-outs if Verimatrix achieves certain goals in 2018. It expects to pay $143 million at close (in an all-cash transaction), which should take place in the first quarter of 2019, plus $9 million in earn-outs in the second quarter.
In a statement, Inside Secure chairman and CEO Amedeo D'Angelo said the acquisition will let his company build scale and value for companies shifting to software and cloud-based security solutions. Once the businesses are combined, look for Inside Secure to focus on entertainment security and move into internet of things and connected cars.
Promising a frictionless sign-on experience for both consumers and providers, Verimatrix rebrands Akamai Identity Services.
The latest version of Verimatrix MultiRights OTT Plus goes beyond rights management and adds security and usage analytics, as well.
Bringing the power of big data to operators, Verimatrix provides a multi-screen, multi-service perspective that safeguards sensitive customer information.