The investment firm Volaris Group Inc. revealed today that it has acquired identity management solutions company Hitachi ID Systems Inc. for an undisclosed price and renamed the company Bravura Security.
Founded in 1992 and formerly known as M-Tech Information Technology, while Hitachi Ltd. did not acquire it in 2008, Hitachi ID offers an identity management, privileged access and password management platform in one solution. Billed as providing users with tools and resources to manage risk and protect businesses, the company claims to be a trusted provider of privileged access management for day-to-day operations.
Hitachi ID’s offering includes the ability to optimize internal controls, improve customer service, lower operational costs and strengthen network security. One feature, the ability to facilitate new business, is said to allow companies to grow and generate new revenue with the benefits of better internal processes and security.
The company caters primarily to medium to large organizations with the goal of distinguishing itself for each client with “customer service, innovation, adaptability and pricing.” Notable clients include Ohio National Financial Services, Nestle SA, DocuSign Inc., General Dynamics Corp., BlueCross BlueShield, Sybase and NCR Corp.
Volaris said it acquired what is now Bravura Security because of its mission-critical software, strong market position, experienced management team, deep industry knowledge and customer focus.
Volaris is a private equity firm that buys a variety of companies with the stated goal of “providing them with the strategic guidance and financial security needed to help them be leaders in their respective markets.”
“Bravura Security’s analyst-recognized market position, combined with its more than 20 years of experience and global customer base, made it an attractive investment for Volaris,” Carl Bruce, group head of Volaris, said in a statement. “This acquisition strategically positions us to build a broader cybersecurity portfolio and provides us with a footprint in the growing identity management and privileged access market.”
Bravura Security will continue to be led by current Hitachi ID CEO Nick Brown, with support from existing management and key personnel.
The acquisition is approximately the 55th for Volaris, according to Traxcn data. Volaris’ recent acquisitions include information technology services management company Alemba, hospital communications company Hospedia Ltd. and software solutions provider Advanced Management Systems Ltd.