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EMC Secures Verid
The deal is the latest in a string of security acquisitions from EMC, although it is unlikely that the fee matched the $175 million paid last fall for Network Intelligence, which boasted 700 customers and $25 million in funding. (See EMC Pockets Network Intelligence.)
In contrast, Verid has around 130 customers, and just over $20 million in funding, although the Fort Lauderdale, Fla.-based firm lists financial services giant Vanguard amongst its clients. (See Verid Secures $13.2 Million.)
Verid, which offers a managed service built around its own authentication software, will be added to the portfolio of RSA, EMC's security unit. The startup checks whether users of online banking or e-commerce sites are who they say they are. (See EMC Secures RSA for $2.1B and Execs Concerned About Data Loss.)
In a nutshell, Verid links up with its customers' Web portals to verify end-user details, which are transferred via encrypted HTTPS links. Rather than the traditional approach of relying on usernames and passwords, Verid also asks its clients' customers a series of questions.
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