9th Dec 2021 10:11
(Alliance News) - Avast PLC on Thursday said it acquired the US company Evernym Inc that develops verifiable credential software and applications.
The Prague-based cybersecurity provider purchased the Draper, Utah-based company to complement its existing security and privacy offering.
Furthermore, Evernym is supposed to support Avast in delivering "breakthrough identity products."
Evernym was founded in 2013 and is "already embedded" in industries such as travel and finance, Avast said.
Its technology is also at the centre of the International Air Transport Association's travel pass and powers the MemberPass solution of the Denver-based credit union organization Bonifi, Avast noted.
Avast did not disclose the purchase price of the acquisition, which is expected to close mid-December.
"Our vision for digital freedom is to enable people to manage and retain control over their personal data so that they can interact and transact safely, privately and with confidence. Decentralized digital identities are a key component of that vision. Adding Evernym's groundbreaking self-sovereign identity technology to our offering enables us to address this area and is a huge step forward in the realization of a digital world where decentralized, portable identities are available universally and globally," Avast Chief Executive Ondrej Vlcek said.
Evernym Chief Executive Steve Havas added: "Combining our decentralized identity leadership with Avast's globally trusted reputation for protecting individuals is a perfect combination to help bring back privacy and trust in everyone's digital interactions everywhere, every time."
Shares in Avast were down 0.4% at 611.80 pence each on Thursday morning in London.
By Abby Amoakuh; [email protected]
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