Secure e-commerce solutions provider SecureNet is moving to specialize in
the Public Key Infrastructure (PKI) domain with its latest acquisition of
specialist e-commerce consulting firm Electronic Trading Concepts (ETC).
ETC has been involved in several large PKI projects and has consulted in
the design and implementation of e-commerce strategies for over 600
projects for government, finance and corporate clients locally and
internationally.
SecureNet managing director Geoffrey Ross hoped that the acquisition
would boost strategic and technical support for its e-commerce solutions,
providing a “human resource” to assist with contracts and act as a partner
for future ventures.
The acquisition is expected to be completed in July and is subject to
due diligence. The purchase price will consist of two components – a base
price and a performance-based bonus.
The base price will be settled in cash and with SecureNet shares in
proportions yet to be determined.