HP to Acquire Trustgenix to Bolster Identity Management in HP OpenView Software
PALO ALTO, Calif., Nov. 30, 2005 – HP today announced that it has signed a definitive agreement to acquire Trustgenix, Inc., a leading provider of federated identity management solutions that establish secure, private exchanges of user data among cooperating organizations.
Upon the closing of the acquisition, HP plans to integrate Trustgenix and its federated identity management solutions into the HP OpenView management software portfolio. The acquisition will allow HP to rapidly extend the federation capabilities of HP OpenView, enabling enterprise customers to help their business partners secure access to information residing on different systems.
“Identity federation appeals strongly to market segments such as telecommunications, financial services, manufacturing and government ,” said Todd DeLaughter, vice president and general manager, OpenView Business Unit, HP. “The depth and breadth of the Trustgenix solutions will bolster our efforts to help customers securely and quickly extend their enterprises to business partners within and across corporate boundaries.”
Headquartered in Santa Clara, Calif., Trustgenix is HP’s original equipment manufacturing partner for HP OpenView Select Federation, which uses industry-standard federation protocols to link multiple accounts with different providers on the Internet so that user authentication occurs only once and securely. When a user navigates to different sites belonging to the same federation, Select Federation recognizes the user and is able to provide a secure, personalized experience based on the user’s preferences and identity.
“As the pioneer in the federation space, Trustgenix has built a superior technology platform and achieved significant growth in customers, revenues and employees in the past year,” said Atul Tulshibagwale, chief executive officer, Trustgenix. “We are proud to be joining HP, which has the financial and market resources required for our products and team to realize their full potential.”
Financial terms of the transaction were not disclosed. The acquisition is subject to certain closing conditions and is expected to close within the next 30 days.
More information about the HP OpenView portfolio is available at www.hp.com/openview.
Trustgenix is a leading provider of software federation solutions that establish secure, privacy-protected exchange of user data among cooperating organizations. Trustgenix offers the only federated identity management software that supports all open federation protocols and integrates with any identity management system or homegrown single-sign on system. Trustgenix supports all of the popular federation standards, including SAML 1.1, SAML 1.0, Liberty ID-WSF 1.0, Liberty ID-FF 1.2 and ID-FF 1.1, Liberty Enabled Client Proxy (LECP), the Liberty Extended Profiles, and WS-Federation. More information about Trustgenix and its products is available at www.trustgenix.com.
HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Oct. 31, 2005, HP revenue totaled $86.7 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at www.hp.com.
This news release contains forward-looking statements that involve risks and uncertainties, as well as assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of HP and its consolidated subsidiaries may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including expected benefits of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; risks related to the timing or ultimate completion of the transaction; and other risks that are described from time to time in the Securities and Exchange Commission reports of HP, including but not limited to HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2005, and other reports filed after HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2004. HP assumes no obligation and does not intend to update these forward-looking statements.
- Contact Information
- Marc Gendron
- Marc Gendron Public Relations
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.