GeoTrust Acquires Equifax Digital Certificate Business
Leader in Trust Solutions for the Internet
Changes the Playing Field
September 25, 2001 - BOSTON, MA. - GeoTrust, Inc.(www.geotrust.com),
a leader in trust solutions for the Internet security
infrastructure, has acquired the digital certificate
business of Equifax Secure Inc., the e-commerce division
of Equifax Inc. (NYSE: EFX), a $1.1 billion worldwide
leader in enabling and securing global commerce.
The acquisition significantly strengthens GeoTrust's
position in the 3As - authentication, authorization,
and administration - sector of the Security Market,
which IDC projects to grow to $9.5 billion by 2005.
"The unique combination of the Equifax SSL
transaction security solution with the new True Site
Seal identity trust solution from GeoTrust, rearranges
the competitive landscape and provides new revenue
opportunities for the combined company, while delivering
a more meaningful return on investment for the customer,"
said Peter Kuper, Vice President of SG Cowen. "At
the same time, tapping the Equifax customer base and
channel partners should give GeoTrust tremendous traction
in expanding on a healthy and growing SSL business
with the new identity trust solution."
"We are very excited to be able to integrate
this best-in-class SSL certificate technology with
our patent-pending True Site Seal identity trust technology,
while deepening our existing relationship with Equifax,"
said GeoTrust CEO Neal Creighton. "The Equifax Secure
SSL product is proven technology, backed by a world-class
operational infrastructure, already deployed in a
large world-wide customer base."
"Focusing the Equifax Secure business on our
authentication services core competence while strengthening
our relationship with GeoTrust is a win-win," said
Ron Garmon, Senior Vice President and General Manager
of Equifax Secure. "Our new strategic partnership
leverages the synergies between True Site Seal and
SSL and between our authentication services and GeoTrust's
Internet trust solutions."
Current Equifax Secure customers can immediately
benefit from the addition of the True Site Seal identity
trust solution to their existing SSL implementations.
As part of the acquisition, GeoTrust is retaining
the world-class operations infrastructure from Equifax
Secure and enhancing customer support services, so
customers should experience the same or better services
levels as well. Current GeoTrust customers will benefit
from better integration in future products and better
operations support, such as faster SSL provisioning
times, as the Equifax Secure digital certificate operational
infrastructure is combined with GeoTrust.
Current Equifax Secure channel partners can join
the ranks of GeoTrust partners who offer True Site
Seal, a significant new capability that addresses
a critical simmering issue in the market, to their
existing SSL customers. They can begin offering True
Site immediately, with minimal incremental cost. Since
the initial launch of True Site in June, advanced
Equifax Secure channel partners have already started
becoming GeoTrust partners independent of the acquisition.
"True Site is a great value and an easy-to-implement
enhancement for SSL customers," said Nick Matina,
CEO of Website Monster, one of the top five Web hosting
service providers. "In the first three months since
we began offering True Site, our customers have purchased
over fifty new packages and it has been a total success."
"Customers have been asking for site validation
for the last two years," said Tianna Thomas, Director
of North American Sales for Hitsites/Intelex. "We
have had 100% take up by customers we have approached
so far."
"True Site provides great value and easier
administration," said Greg Way, Cofounder of Infodial.
"It's a no-brainer for our customers."
Digital certificates enable safe Internet transactions
via encrypted communication protocols, such as the
secure sockets layer (SSL) protocol. SSL encryption
solutions have built a solid foundation of Transaction
Trust that fueled the commercialization and growth
of the Internet. Transaction Trust ensures safe transmission
of sensitive information such as, credit card data,
business collaboration information, and private medical
records. While SSL continues to play a critical role
for Transaction Trust, it has failed to provide Identity
Trust - verification of a site's identity before establishing
a secure transaction.
True Site, GeoTrust's flagship solution set, utilizes
patent-pending Identity Trust technology that enables
transparent verification of site identities. By coupling
industry-standard SSL certificates with smart seals,
True Site offers the World's first second-generation
Internet trust solution addressing both Identity and
Transaction Trust.
About Equifax Secure
Equifax Secure (www.equifaxsecure.com),
the e-commerce division of Equifax Inc, provides security,
privacy and transaction management solutions that
protect consumers and enterprises from the risk of
identity theft and fraudulent transactions. Equifax
Secure authenticates online consumer identity, secures
business applications and manages digital certificates
and directories for highly secure, private e-commerce
over the Internet and other networks.
About Equifax
Equifax enables and secures global commerce through
its information management, consumer credit, marketing
services, business information, authentication and
e-commerce businesses. As the leader in information
services, Equifax adds value wherever customers do
business, including the financial services, retail,
telecommunications/utilities, information technology,
brokerage, insurance and business lending industries
and government. Equifax also enlightens, enables and
empowers consumers to manage and protect their financial
health with services offered at www.equifax.com.
The company ranked in the top five in return on equity
among Business Week's Best Performers for 2001. Equifax
employs 6,600 in 13 countries and has $1.1 billion
in revenue.
About GeoTrust, Inc.
GeoTrust, Inc.(www.geotrust.com),
a leader in trust solutions for the Internet security
infrastructure, is paving the way to a new world of
trust and business opportunity. GeoTrust's second-generation
Internet trust solutions, based on breakthrough identity
trust and world-class digital certificate technologies,
enable Web sites, enterprises and individuals to safely
exploit the Internet.
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Media Contacts:
Schwartz Communications, Inc.
Prospect Place
230 Third Avenue
Waltham, MA 02451
Phone: (781) 684-0770
Fax: (781) 684-6500
E-mail: geotrust@schwartz-pr.com
www.schwartz-pr.com
Equifax Inc.
Dave Mooney
Equifax, Atlanta
404-885-8117 |
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