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PGP Corporation to acquire TC TrustCenter and ChosenSecurity

Data encryption firm PGP Corporation...

Data encryption firm PGP Corporation is to acquire Germany-based TC TrustCenter and its US-based parent ChosenSecurity.

The acquisition will allow PGP Corporation to add managed trusted identities for encryption, authentication and secure collaboration to its portfolio of data protection products and services.

TC TrustCenter technology enables secure, trusted electronic transactions and is used to secure web-based banking transactions, authenticate mobile applications and create digital signatures.

PGP said the acquired technology will allow customers to bridge third-party security applications with the firm's own encryption and key management applications.

Trusted identities are a crucial component for data protection solutions that secure sensitive data, said Phillip Dunkelberger, president and chief executive at PGP Corporation.

"With this acquisition, PGP Corporation is gaining an extensible platform that will accelerate its vision of delivering integrated data protection across vendors, technologies and devices," he said.

Terms of the acquisition were not disclosed, but PGP said ChosenSecurity and TC TrustCenter will continue to sell and support their existing products.

The companies will also develop new offerings that integrate with PGP Corporation's product line under the leadership of general manager Rajiv Dholakia, the company said in a statement.

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