Inside Secure, at the heart of security solutions for mobile and connected devices, has acquired SypherMedia International, a California-based security solutions and services provider, for up to $10 million, including a potential earn-out of up to $3 million.
SypherMedia is a key player in embedded security from product design to product life cycle management. SypherMedia’s secure provisioning solution, a critical piece of a robust root-of-trust solution, is used by many leading chipmakers and consumer electronics manufacturers to address the critical security needs in the automotive, IoT, mobile, and smart TV markets.
“The acquisition of SypherMedia enables us to accelerate the execution of our strategy on Silicon IP business towards embedded security solutions that combine product and service offerings, aiming at generating recurring revenues,” said Amedeo D’Angelo, President and Chief Executive Officer of Inside Secure. “This is a great opportunity to complement our existing offering and accelerate our ability to provide our customers with complete solutions that bring security at the heart of their products from design to the entire chip lifecycle. As an example, combining our root-of-trustsolution and SypherMedia’sprovisioningis key to bring security to the growing IoT and automotive markets. All in all, bringing SypherMedia onboard creates substantial value for our customers, our employees and our shareholders.”