Another week, another security vendor acquired.
This time the news is that Hitachi has acquired M-Tech Systems Inc. as part of a strategy to broaden its overall security portfolio. The new company will be called Hitachi ID Systems Inc. (Hitachi ID). In an email, company representatives said M-Tech’s identity management technology will be an integral component of Hitachi’s complete portfolio of information security solutions.
“Hitachi is increasingly focusing on its software and solution businesses in systems management and information security to introduce solutions aimed at the achievement of a broad and secure information society,” said Masato Saito, Executive General Manager, Information & Telecommunications Systems Group (ITSG), Hitachi, Ltd. “Hitachi has developed and commercialized advanced IT security technologies such as finger vein biometric authentication, which is already used for ATM authentication in about 80 percent of Japanese financial institutions that have adopted biometric authentication technologies for this purpose. Hitachi believes that M-Tech’s identity management technology will be an integral component of Hitachi’s information security solution offering.”
According to the press release, Hitachi ID will build on M-Tech’s leadership in the identity management marketplace and grow M-Tech’s business globally by leveraging Hitachi’s brand and market channels and by developing new opportunities in collaboration with other Hitachi Group companies worldwide.
No information on the price tag was given.