A leading provider of TLS/SSL, IoT, and other PKI solutions, DigiCert, Inc., announced that it had acquired Internet of Things (IoT) cybersecurity firm Mocana. Crosspoint Capital, Clearlake Capital Group, backs the company. L.P. ("Clearlake"), and TA Associates. The combination of DigiCert and Mocana technologies offers IoT manufacturers and operators a unified platform for controlling security throughout the whole lifecycle of IoT devices. The transaction's terms were not disclosed.
DigiCert's foothold in the fast-growing IoT industry will be strategically accelerated due to the purchase. Organizational investment in IoT platforms for operational efficiency, competitive differentiation, and digital transformation, 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,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."
DigiCert CEO John Merrill
"We have had a strategic partnership with Mocana for years and truly value their contribution to our product portfolio," said James Kline, senior director of program management at ABB Inc. "We are excited about the backing from DigiCert as a global leader in IoT security."
Customers can use DigiCert and Mocana together to manage device identity, prevent device tampering, secure communications, 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 Mocana CTO Srinivas Kumar. "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."