Loading...
Loading...
ASCO Data Security
International
, a global leader in authentication, digital
signatures, and identity management, announced today that it has executed a
definitive agreement to acquire Risk IDS, Ltd., a provider of risk-based
authentication solutions to the global banking community.
Risk IDS provides online transaction risk management and intelligent
authentication decision solutions. The core technology is a Dynamic Challenge
Platform that is optimized for stability and high volume. The platform is
designed to evaluate the profile of the user requesting access to the system
to determine the risk profile associated with the transaction. It features a
real-time analysis engine that uses rules and statistical techniques to
improve real-time fraud detection. VASCO will integrate Risk IDS' risk-based
authentication technology into future product offerings.
Risk-based authentication provides a more flexible process of authentication
to ensure higher risk profiles result in stronger challenges. It allows the
application to request additional credentials when the risk level is higher.
Contextual information that may be used in risk-based authentication includes
user location, device characteristics, transaction amount, and other factors.
This method ensures that the appropriate level of authentication is applied to
ease the process when only a lower level of security is needed. It will
transparently apply more stringent methods when necessary to prevent fraud.
According to T. Kendall Hunt, VASCO's Chairman and CEO, the acquisition will
enhance VASCO's leadership position in the authentication segment and extend
the company's broad product portfolio. "Our clients face increasingly
sophisticated attacks from well-organized criminal hacking organizations that
create new attack vectors every day," said Hunt. "Our focus is to always keep
our clients one step ahead of an ever-expanding threat horizon and this is an
important move in support of that mission."
As part of the agreement, key members of Risk IDS will join VASCO. "This
acquisition puts Risk IDS within a corporate environment that will ensure the
development and international distribution of our software," said Richard
Churchman, Managing Consultant and founder of Risk IDS. "I am delighted to be
joining a NASDAQ listed company with a management team that champions
entrepreneurial values while continuing to grow a well-respected and effective
business."
Financial terms of the transaction are not being disclosed. The acquisition is
not expected to have a material impact on VASCO's 2014 financial results.
About VASCO
VASCO is a leading supplier of strong authentication and e-signature solutions
and services specializing in Internet security applications and transactions.
VASCO has positioned itself as a global software company for Internet security
serving a customer base of approximately 10,000 companies in more than 100
countries, including approximately 1,700 global financial institutions.
VASCO's primary markets are the financial sector, enterprise security,
e-commerce and e-government.
About Risk IDS
Risk IDS develops software security solutions that help financial institutions
manage risk in a variety of ePayment channels. Risk IDS focuses on risk-based
authentication in eBanking while also having a strong presence in card fraud
prevention, eCommerce fraud prevention, acquiring credit risk monitoring and
anti-money laundering. Risk IDS has built an impressive client base with
banks and payment institutions throughout the world in using their software
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934 and Section 27A of the
Securities Act of 1933. These forward-looking statements (1) are identified
by use of terms and phrases such as "expect," "believe," "will," "anticipate,"
"emerging," "intend," "plan," "could," "may," "estimate," "should,"
"objective," "goal," "possible," "potential," "project," and similar words
and expressions, but such words and phrases are not the exclusive means of
identifying them, and (2) are subject to risks and uncertainties and represent
our present expectations or beliefs concerning future events. VASCO cautions
that the forward-looking statements are qualified by important factors that
could cause actual results to differ materially from those in the
forward-looking statements. These risks, uncertainties and other factors
that have been described in our Annual Report on Form 10-K for the year ended
December 31, 2013 and include, but are not limited to, (a) risks of general
market conditions, including currency fluctuations and the uncertainties
resulting from turmoil in world economic and financial markets, (b) risks
inherent to the computer and network security industry, including rapidly
changing technology, evolving industry standards, increasingly sophisticated
hacking attempts, increasing numbers of patent infringement claims, changes in
customer requirements, price competitive bidding, and changing government
regulations, and (c) risks specific to VASCO, including, demand for our
products and services, competition from more established firms and others,
pressures on price levels and our historical dependence on relatively few
products, certain suppliers and certain key customers. Thus, the results that
we actually achieve may differ materially from any anticipated results
included in, or implied by these statements. Except for our ongoing
obligations to disclose material information as required by the U.S. federal
securities laws, we do not have any obligations or intention to release
publicly any revisions to any forward-looking statements to reflect events or
circumstances in the future or to reflect the occurrence of unanticipated
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in