Founded in 2016, Secure Thingz develops and sells products and services for implementation of embedded security in connected devices. The company has provided security solutions for the development platform Renesas Synergy Platform through its Secure Deploy platform offerings, which is developed in order to solve the major security challenges faced by companies developing for the IoT. Company founder Haydn Povey will continue to head Secure Thingz as CEO.
In April 2017, IAR Systems had announced it was taking an initial 10 percent equity stake in Secure Thingz, and the stake subsequently has been expanded to approximately 20 percent.
“With the increasing number of connected devices, our customers are facing new challenges. One of the major challenges is how to deliver secure products in a world where even minor failures can lead to major consequences,” comments Stefan Skarin, CEO, IAR Systems. “As a first step, our customers need help mainly protecting themselves against overproduction and IP theft, and we are responding to this need with a new offering that provides possibilities to create modern workflow where security is included from start. The acquisition of Secure Thingz is a step in our increased ambition for future growth through new technology, new markets, new business models, and new relationships. It also secures our position as a frontrunner in a changing industry.”
“We are very excited to become a part of the highly competent IAR Systems team,” said Haydn Povey, founder and incoming CEO, Secure Thingz in a joint statement. “We have already established a smooth cooperation with the development of Embedded Trust, and our combined resources within technology, sales and customer support will enable us to accelerate the development of the innovative security solutions that the digital products market so desperately needs.”
With the acquisition IAR Systems will now offer a wide-ranging solution for secure development, secure provisioning, programming, and secure lifecycle management in partnership with the silicon device vendors, market channel partners and programming partners. Completion of the transaction is expected to occur on April 11, 2018.
IAR Systems – www.iar.com
Secure Thingz – www.securethingz.com