Mocana, a cybersecurity provider for the Internet of Things (IoT), has been acquired by DigiCert. The combination of DigiCert and Mocana technologies would offer IoT manufacturers and operators with a complete platform for controlling security across the whole lifespan of IoT devices. The transaction’s terms were not disclosed.
DigiCert’s foothold in the fast-growing IoT industry will be strategically accelerated as a result of the acquisition of Mocana. Organizational investment in IoT platforms for operational efficiency, digital transformation, and competitive differentiation, according to IDC, will drive growth to more than 55 billion linked devices by 2025.
“IoT security has been a challenge for device manufactures and operators,” said John Merrill, Chief Executive Officer (CEO) at DigiCert. “With the addition of Mocana, DigiCert is building on its vision for delivering digital trust, a growing necessity in the IoT market as smart devices become ubiquitous in every corner of our personal and professional lives. We are excited to introduce new and existing customers to our integrated platform and welcome the addition of Mocana’s expertise in IoT technology and the industrial and manufacturing verticals to the DigiCert team.”
Solving Challenges of IoT Security
Customers may use DigiCert and Mocana together to manage device identification, secure communications, prevent device tampering, and remotely and securely upgrade firmware and settings once in the field. This end-to-end platform eliminates security risks and allows digital transformation, which is enabled by the convergence of information technology (IT) and operational technology (OT).
“Mocana is excited to be joining the DigiCert team,” said Srinivas Kumar, Chief Technology Officer (CTO) at Mocana. “Together, our solutions uniquely solve the challenges of IoT security, from embedding security protections on-chip or at device manufacturing to on-device secure communications and firmware updates once in the field.”
DigiCert is financially backed by Clearlake Capital Group, Crosspoint Capital, and TA Associates. Clearlake currently has over $60 billion of assets under management. The firm’s core target sectors are technology, industrials, and consumer. The private equity company has offices in Santa Monica and Dallas.
Crosspoint Capital Partners is a private equity firm focused on cybersecurity, privacy, and infrastructure software. Crosspoint has offices in both Menlo Park, California, and Boston, Massachusetts.
Technology, healthcare, financial services, consumer and business services are the five areas that TA Associates focuses on. Since its inception in 1968, TA has raised $47.5 billion in capital. Boston, Menlo Park, London, Mumbai, and Hong Kong are home to the firm’s more than 100 investment experts.
