Cryptocard has picked up the intellectual property from two-factor authentication specialist GrIDsure to add tokenless technology to its portfolio.
GrIDsure has been talking of a potential sale for the past few weeks and started liquidation proceedings after its major investor walked away. It already had a relationship with Cryptocard, which will incorporate token-less authentication through its BlackShield SaaS platform.
Cryptocard's other ambition buying the IP is to use it to provide cheaper options to SME customers that might have previously been put off by the cost of authentication tokens.
Neil Hollister, CEO of Cryptocard, said the decision to pick up the IP had been a straight forward one to extend its market reach: "We made the decision to acquire GrIDsure's pattern authentication IP to build out our already robust token and tokenless offering and to give our customers the widest possible choice."
He added that "tokenless technology is incredibly cost-effective and easy to use and is a growing market."