Netegrity finds identity with Business Layers buy
Vendor snaps up provisioning software firm for $42.5m
Security and identity management software vendor Netegrity has acquired provisioning software vendor Business Layers for $42.5m.
Netegrity has claimed the two firms' combined products will provide an offering to help mitigate risk, comply with new rules and automate managing access to resources for staff, contractors and partners.
Under the terms of the deal, £15m will be paid in cash and $27.5m in shares of Netegrity common stock.
Barry Bycoff, chief executive of Netegrity, said: "Businesses need effective solutions to solve their specific access management, identity administration and provisioning needs.
"With this buy we are in a position to provide the industry's only platform-neutral solution that spans heterogeneous environments."
Izhar Shay, chief executive of Business Layers, said the acquisition was "the natural progression" of a year-long licensing partnership between the two vendors.