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Global trust and identity solutions company IdenTrust Aquired by Parallax Capital Partners

25 Sep 2013

computer code softwareSouthern California-based software private equity firm Parallax Capital Partners and global private equity firm StepStone have acquired a majority stake in global trust and identity solutions company IdenTrust.

IdenTrust provides online fraud protection and regulatory compliance by using a single digital identity that can authenticate, encrypt and create electronic signatures for every type of transaction. In the UK, IdenTrust digital certificates secure more than $6bn payment transactions annually, with an aggregate value exceeding $7tn, the firm said.

The purchaser Parallax, which focuses on acquiring and operating application software and related services companies, typically invests in lower mid-market software and related technology companies. It targets companies with revenues between $5m and $100m and invests through structures including leveraged buyouts, recapitalisations, corporate divestitures, spin-offs and build-ups. Its regional focus is US, Canada, select European and Asia-Pacific countries.

This is Parallax’s second acquisition in the identity and access management sector in the past several months, the first one being Mountain View, California-based FoxT which was acquired in June 2013.

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