RSA Security announced today that it has acquired the privately-held online security company Cyota for approximately $145 million, expanding its portfolio of software and services available to secure online identities and transactions.
The New-York based company, delivers online security and anti-fraud solutions to thousands of financial institutions worldwide. With the acquisition of Cyota, RSA is extending its leadership position in authentication by having the broadest portfolio of services and solutions.
“Today, RSA Security is the leader in protecting online identities and digital assets. Through our combination with Cyota, RSA Security will become the leader in the protection of consumer identities and remote transactions,” said Art Coviello, president and CEO of RSA Security.
RSA Security expects to offer a risk-based layered authentication approach. This method allows costumers to select from a vast range of authentication options depending on the risks posed and desired to convenience. Further more, the company plans to establish its position among online banking and e-commerce aspects.
In addition to expanding RSA authentication portfolio, the acquisition opens up new market opportunities by adding anti-fraud and anti-phishing protection services.