Global digital security provider, Thales, is on the verge of buying IAM firm, One Welcome in a deal expected to reach £100 million.
The acquisition will ensure Thales’ portfolio of authentication technologies and access tools to business applications in the cloud become integrated with customer identity and access management capabilities. One Welcome specialises in securely connecting customers and enterprise to online and administrative services through IAM which combats data breaches. According to official statistics released by the Identity Defined Security Alliance’s study, “Identity Security: A Work in Progress”, 94% of organisations have dealt with a data breach justifying the current demand for IAM technology.
Thales’ reasons for entering the agreement include to draw upon the company’s regional success with IAM in order to expand this focus globally in regulated markets. The outcome is likely to be a multi-intelligent Identity Platform that has the added secure management infrastructure to allow customers control over their data while meeting regulatory requirements.
Likewise, the partnership should enable One Welcome to expand its product portfolio to capture larger market audiences around the world. Thales’ 20-year experience will now be optimised to drive harder digital transformation with secure access capabilities and personal data privacy to appeal to customers, businesses, administrative bodies and all other users.
With this acquisition, One Welcome can hope to fulfil its consistent growth plans to become the world’s leading provider of IAM while the market size shows no signs of slowing down. In 2020, the IAM market was valued at 12.25 billion and is projected to keep growing to USD 34.52 billion in 2028.