Security software maker Entrust is expanding its government security presence with the acquisition of Orion Security Solutions.
Entrust agreed to buy Orion Security Solutions for $8 million in cash, with a potential of $1 million more if certain targets are met, for a total of $9 million.
Orion Security Solutions makes public key infrastructure services (PKI)
The company was founded in 2002 by Orion CEO Santosh Chokhani and claims $4 million in annual service revenues.
Entrust currently claims to provide solutions to over 60 civilian departments within the government.
Entrust Chairman, President and Chief Executive Officer Bill Conner noted that approximately 60 percent of Entrust’s revenue comes from the government.
“This is a natural move for us to solidify our leadership position in government while building upon initiatives for ePassports, HSPD12 (Homeland Security Presidential Directive 12), new online services and national ID programs,” Conner said in a statement.
Security continues to be a very hot topic in Washington, especially in light of the recent Veteran Affairs data breach, which put roughly 26.5 million veterans at risk of identity theft.
Entrust expects to close the deal today, with Orion employees joining Entrust’s Entrust Cygnacom subsidiary. Chokhani will become an Entrust vice president.