Cryptocard has acquired the patents and IP of troubled tokenless authentication firm GrIDsure, the company has announced.
Cryptocard, also playing in the authentication space, did not reveal how much it has paid for GrIDsure’s patents and IP. It says the deal will enable it to push its technology towards the SMB space, an area it is not currently particularly strong in.
The portfolio is has acquired from GrIDsure will be integrated with Cryptocard existing BlackShield SaaS platform and enable it to offer customers token or tokenless authentication via the cloud or on-premise, the company said.
"We made the decision to acquire GrIDsure’s pattern authentication IP to build out our already robust token and tokenless offering and to give our customers the widest possible choice," said Neil Hollister, CEO of Cryptocard.
"Tokenless technology is incredibly cost-effective and easy to use and is a growing market. By delivering it on Cryptocard’s BlackShield Cloud platform, the cost of service delivery is minimal and builds on our vision to make strong authentication universally available to organisations globally, regardless of size," he added.
It was reported earlier this month that GrIDsure was in talks with a potential buyer after one of its investors had pulled out. It was also suggest that liquidation proceedings had begun.
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