Inside Secure has completed its $143 million (€126m) purchase of security specialists Verimatrix.
The combined company will cover software and hardware security for the mobile, internet of things (IoT) and connected cars markets
Amedeo D’Angelo will be chairman and CEO, while Steve Oetegenn, who has served as president and chief sales and marketing officer of Verimatrix, has been appointed chief operating officer for the combined company.
However, there’s no place for Verimatrix CEO Tom Munro, who told contacts earlier this week that he had “opted out of the future management team” but would remain in the industry through board positions and advisory roles.
Said D’Angelo: “I am thrilled to welcome the Verimatrix team and expertise to create a strong force in cloud-based security and analytics. This is an exciting time for the new combined company, which is ideally positioned to be a software-based security and analytics powerhouse”
Inside Secure, which has specialised in mobile and connected devices, has worked with HBO, BBC and Sky.
The equity financing is backed by One Equity Partners, the technology specialist that is also a shareholder in Ericsson spinoff Mediakind.
