EMC acquires Florida-based Verid

HOPKINTON, USA: EMC Corporation has announced that it has acquired privately-held information security technology company Verid, Inc for an undisclosed amount. Verid, based in Florida, delivers knowledge-based authentication solutions.

"The acquisition of Verid both builds upon our existing set of authentication methods and – significantly – extends our capabilities into the preliminary vetting and verification stages of new user relationships in a variety of markets," said Christopher Young, vice president, Consumer and Access Solutions at RSA.

Immediately following the close of the acquisition on June 1, EMC and Verid assembled cross-functional teams to develop integration plans designed to maximize business leverage and efficiencies. Verid will function as a separate product line and services offering within RSA, the security division of EMC.

EMC had acquired RSA for $2.1 billion last year. Kevin Watson, current CEO of Verid, will continue to lead the business, reporting directly to RSA's Christopher Young.

"With this acquisition, we are expanding our ability to provide customers with the most robust set of solutions and deployment options available to protect identities and transactions – both online and via the phone channel. In fact, due to our pre-existing partnership with Verid, we have already made great progress in combining knowledge-based authentication capabilities into the RSA Adaptive Authentication solution," added Young.

"I am confident that Verid's team and technology will make a strong contribution to EMC's overall offering and both companies' customers are set to see the benefits of this exciting combination," said Watson.