Keyfactor and PrimeKey are set to merge under the Keyfactor brand while committing to increased investments across all product lines.
Keyfactor is the pioneer of PKI as-a-Service, and the recognized leader in certificate lifecycle automation and crypto-agility solutions. PrimeKey’s EJBCA® software offers the most powerful and flexible certificate authority (CA) supporting DevOps, IoT, manufacturing and enterprise use cases.
The merger forms an industry-first machine identity management platform, combining Keyfactor’s certificate lifecycle automation with PrimeKey’s EJBCA. The new platform will provide end-to-end machine identity management – with flexible and highly scalable certificate issuance and automated deployment of machine identities across complex enterprise and emerging IoT and OT use cases.
PrimeKey’s employees will join Keyfactor, creating an unprecedented mashup of talent in the identity management space. Jordan Rackie will continue leading the organization as CEO and Magnus Svenningson will assume the role of chief strategy officer (CSO) and executive vice president (EVP) of business development. The combined company will have a global presence with offices in the U.S., EMEA and Asia-Pacific. The transaction is expected to close within the next 90 days, pending approval by the Swedish authorities.
This $125 million growth infusion, led by Insight Partners, adds to its initial $77 million investment in Keyfactor in 2019.