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Clavister Joins Forces with PhenixID, Identity & Access Management Specialist

August 2016 by Marc Jacob

Clavister has acquired its partner PhenixID, a leading provider of solutions for identity and access management (IAM), bringing PhenixID’s technologies and products into the Clavister group.

The purchase will enable both Clavister and PhenixID to strengthen their solution offerings and better meet the market’s growing demand for closely integrated, secure login and identity management services. PhenixID will continue to build upon its strengths as an IAM department within the Clavister Group, with combined network security and IAM solutions will use elements of Clavister and PhenixID technologies. Opportunities to jointly develop further solutions will also be explored.

The fast-growing Internet of Things (IoT) is expected to drive strong growth in the IAM sector in the next four years, according to a new report from analyst, Forrester*. IoT devices give hackers and criminals a new vector from which to launch large-scale attacks, and IAM solutions will be critical in securing access to devices, managing connectivity, and protecting data communications between IoT devices.

Clavister purchased an initial 30.1% of PhenixID shares earlier in 2016 and is acquiring the remaining 69.9% of shares in the company once the deal has been formally agreed by shareholders. Under the terms of the deal the shareholders of PhenixID will become one of the larger shareholders in Clavister. The acquisition of PhenixID will add substantial IAM expertise and credentials to Clavister.

PhenixID reported SEK 8.2 million in revenues for the first 6 months of 2016. Full year revenues were reported at SEK 9.3 million for 2015. Measured as a percentage of Clavister’s turnover, PhenixID reported net sales of 14% of Clavister’s full-year figures for 2015. PhenixID’s profits before tax were SEK 0.9 million for the first half of 2016, and SEK 1.5 million for the full year 2015.

The acquisition of remaining shares, held by founders and employees in PhenixID, is based on a valuation of the company of SEK 91.5 million, including approximately SEK 33.5 million in financial assets. The payment by Clavister to acquire the 69.9% of remaining shares in PhenixID will be executed through 1,210,516 shares to be issued, worth SEK 64 million, in Clavister Holding AB to the shareholders in PhenixID. This will make them, as an entity, the third largest shareholder in Clavister.


* Vendor landscape: Identity & Access Management solutions for the IoT, May 31, 2016


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