Inside Secure’s acquisition of Verimatrix brought growth of 162% year-on-year to the security technology company.
Now known as Verimatrix, the company reported $32.5 million consolidated revenues in the second quarter.
Verimatrix now expects cost synergies to be in the region of $12.5 million a year, 25% more than was originally anticipated.
Amedeo D’Angelo, chairman and chief executive officer of Verimatrix, stated: “The first half of 2019 was very intense. The Company successfully recouped with growth on Verimatrix, Inc. business after an usually low performance in the first quarter, while leveraging on-going momentum on Inside Secure historical business.”
Following the Verimatrix acquisition the company has been divided into Software and Silicon IP, and Secure Protocols, each with their own R&D resources, product marketing and sales force
