Utimaco to Strengthen Portfolio in Cloud and SaaS by Acquiring MYHSM
- M&A Deals
- 11.01.2021 10:43 am
Utimaco, a leading global provider of IT security solutions, announced that it has acquired MYHSM, the leading provider of Payment HSM as a Service. This acquisition will fast-forward Utimaco’s Cloud and as-a-Service offering, especially for but not limited to the Retail, Banking and Financial Services industry, and reduce customers’ need for investment in hardware, secure facilities, management, and ongoing PCI compliance, audit and support. MYHSM’s employees and customers will be integrated into Utimaco’s Information Security business.
MYHSM started operations in 2018 and is the first, global provider of Payment HSM as a Service. MYHSM takes on the responsibility of service monitoring & management, incident response, system maintenance, capacity provision, and assurance of regulatory compliance in their data centres, security operations centre and support centre. MYHSM’s cloud and service expertise will boost Utimaco’s existing Cloud offering, providing customers with a compelling state-of-the-art solution, delivering flexibility and reduced cost without compromising on security.
“The increased speed of digitization in 2020 increases the need for organizations to define their cloud strategy and make use of the flexibility as well as the potential for cost reduction that an as-a-Service model can offer. This does include security solutions, and we want to provide our customers with the high standard of HSMs they know from Utimaco in whichever form they need them, be it on premise or in the cloud,” said Stefan Auerbach, Chief Executive Officer of Utimaco. “By acquiring MYHSM, we are taking yet another important next step in complementing Utimaco’s product portfolio by a stronger solution offering in a meaningful way in order to be able to offer customers a cloud-based security solution.”
“2020 has been a momentous year for MYHSM with many achievements,“ said John Cragg, Chief Executive Officer of MYHSM. “We believe that being part of the Utimaco team and combining our respective offerings will benefit our customers and makes us ideally positioned for growth in 2021.”
“With the addition of MYHSM into Utimaco’s u.Cloud suite of services, Utimaco continues to facilitate the path for cloudifying cryptographic keys in a secure and compliant manner. Customers now have a path to move away from legacy on-premise HSM’s to the hybrid and public cloud,” said Eyal Worthalter, Vice President Platform Solutions at Utimaco.