Identive Group has entered into an agreement to acquire identity and security firm RockWest Technology Group.
RockWest provides ID management solutions and services to the education, government, corporate, casino and healthcare markets in the southwest region of the US. Identive says RockWest’s focus on ID issuance and personalisation and ID system integration complements its Identity Management Solutions & Services business. Following the transaction, RockWest will be integrated into Identive’s Multicard business and provide a portal for Multicard’s entry into the US marketplace.
“The demand for identity management solutions continues to grow and RockWest has established itself as a leading player in the US market,” says Ayman S Ashour, chairman and CEO of Identive Group. “RockWest is solid and profitable, with an experienced management team. The company has built an impressive portfolio of ID and security offerings, including a number of unique applications that it has worked closely with its customers to develop.”
He adds: “The addition of RockWest to Identive Group demonstrates the continued execution of our buy, build and grow strategy. RockWest’s strong regional presence and the experienced team provide an ideal base from which to launch and build our Multicard brand in the US and further expand our identity management and solutions offering.”
George Levy, co-founder and CEO of RockWest Technology Group comments: “Being part of Identive Group will give us greater scale and resources to accelerate our growth and allow us to work together with other companies in the group to enhance our ability to capture expanding market opportunities.”
The transaction is expected to close in the second quarter of 2010.