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SecureKey Divests Hardware Security Token Group

Oct
09

TORONTO, Canada, October 9, 2013 – SecureKey, the leading provider of trusted identity networks, today announced that it has completed the transfer of its hardware security token group to newly founded Kili Technology Corporation. Afshin Rezayee, formerly vice president of hardware engineering at SecureKey, will lead Kili Technology, and along with the rest of the hardware engineering team will form the core of the new company.

Kili Technology was founded by SecureKey Chairman Greg Wolfond with funding from Toronto-based Blue Sky Capital.

“SecureKey’s core business is providing cloud-based authentication services,

so developing our own hardware devices is no longer the most efficient approach for us moving forward,” said Charles Walton, CEO at SecureKey. “Recognizing the potential that still exists for hardware security tokens, Kili Technology has acquired all of the relevant SecureKey patents and other IP, as well as the engineering team, to continue pursuing this market under the leadership of Afshin Rezayee.”

SecureKey’s groundbreaking, cloud-based briidge.nettrade platform is providing simplified secure access for citizens to a broad range of online services from the Government of Canada, and has recently been adopted by the U.S. Postal Service to provide the cloud-based authentication infrastructure for the new Federal Cloud Credential Exchange (FCCX).

“SecureKey’s hardware security token group will find a good home at Kili Technology, and we are excited by the opportunity to drive this business forward as an independent entity,” said Afshin Rezayee, co-president of Kili Technology. “With our excellent engineering team, technology and customer base, and the support of our backers, we are confident about the success of this new venture.”

About SecureKey Technologies Inc.

SecureKey is the leading provider of cloud-based, trusted identity networks that eliminate the burden, cost, and risks associated with user authentication. The company’s federated authentication solutions ensure that users are properly authenticated regardless of the service, device or credential they prefer to use. Organizations can quickly and easily deliver high-value online services to millions of consumers and citizens with improved transaction privacy, simplicity, and convenience. SecureKey is headquartered in Toronto, with offices in Boston, and Washington D.C. The company is backed by a world-class group of venture and corporate investors. For additional information, please visit www.securekey.com.

Article source: http://www.darkreading.com/management/securekey-divests-hardware-security-toke/240162443

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