Identive Group Inc. announced that it has acquired substantially all of the shares of stock of idOnDemand Inc., a provider of service-based identity credential provisioning and management. The transaction closed on May 2.
Privately-held idOnDemand is headquartered in Pleasanton, Calif. and maintains data centers in Santa Clara, Calif. and Canberra, Australia. Jason Hart, founder, chief executive officer and the majority shareholder of idOnDemand, will continue to manage the company as a business unit within Identive Group.
idOnDemand is a provider of the Software as a Service (SaaS) business model, delivering a managed identity service that enables organizations to use a single credential for secure access to buildings, computers, mobile devices and corporate information stored in the cloud.
Based on its own IP portfolio and IP licensed from ActivIdentity, idOnDemand’s technology supports a range of corporate standards, including the U.S. government’s FIPS 201 specifications.
In return for 95.8% of the outstanding shares of idOnDemand, Identive Group paid initial consideration of approximately $2.4 million cash and 995,675 shares to a group of selling shareholders of idOnDemand. Total consideration also includes an earn-out worth up to approximately $21.0 million in shares of Identive common stock, dependent on the achievement of specific EBITDA and sales performance targets over the next three years and eight months. ![[end]](/resources/bullet/digitalidnews-4.gif)
The Good News regarding the Acquisition of ID On Demand is the Statement in the Article that "Jason Hart, founder, chief executive officer and the majority shareholder of idOnDemand, will continue to manage the company as a business unit within Identive Group". The M&A Activity across the Identity Provider Space has accelerated this Last Year and speaks about the Position of the Industry as the Explosion is in the beginning phase of moving from the Federal Government Space, across States and Private Sector Alike. The only ones who are not paying attention will ask themselves next year and for years to come, How Did we Miss being a part of this Great Journey? As with the First Year of the Internet, of Great Companies like AOL or Apple, the emerging Giants in Industry are only recognized as they tower amongst their peers! The towering events are unfolding before our very eyes!
Great post, but now identive is at 2.92 $ ... What means ?? can you explane this?