EXTENSION OF THE OFFERING IN THE STRATEGIC BUSINESSES OF IDENTITY ACCESS MANAGEMENT (IAM) AND CLOUD BASED SECURITY SERVICES;
FIRST NATIVE SaaS SOLUTION ON THE FRENCH MARKET;
ROLL-OUT OF THE AMBITION21 PLAN TO CONSOLIDATE WALLIX'S PIVOTAL POSITION IN EUROPEAN CYBER-SECURITY
WALLIX GROUP, a software company providing cyber-security and governance solutions for information systems access, has signed an agreement on the acquisition of Trustelem
Founded in 2013, Trustelem develops and markets an Identity as a Service (IDaaS) software solution, which integrates access management and control features for apps, Single Sign-On (SSO) and multi-factor authentication (MFA). According to Gartner consulting firm, 40% of large and mid-sized companies will use IDaaS solutions to meet their identity and access management needs by 2022, compared to only 5% today. Flexible and intuitive, the Trustelem solution is one of the rare market solutions in Europe capable of easily integrating into a company's IT system by adapting to specific client requirements without the need to call in a hefty integration taskforce.
The company, comprising 5 employees, earned revenues of €198,000 in 2018 and already has around 20 clients including SMEs and key accounts.
WALLIX GROUP acquired the entire share capital of Trustelem for €1 million, fully paid up in cash, which may be increased to €1.4 million. The company will be consolidated in WALLIX's financial statements from 1 July 2019.
This acquisition meets a number of objectives set down in WALLIX's Ambition21 plan:
- Extending the reach of the offering towards the identity management and protection market, an adjacent market to Privileged Access Management, through its most dynamic component, IDaaS.
- Developing the Cloud Based Security Services division at WALLIX with the addition of internationally recognized expertise in SaaS to its core business competencies;
- Adding a new product range aimed at all users of corporate IT systems, in addition to the WALLIX Bastion range which is used primarily by system administrators. This allows WALLIX to target client operating divisions as well as IT departments.
Grégory Haïk, Chairman of Trustelem, and Vincent Vanackère, Chief Technical Officer, will join the WALLIX GROUP as IDaaS Business Unit Director and Director of R&D for IDaaS solutions, respectively.
Jean-Noël de Galzain, Chairman of the WALLIX GROUP Management Board, made the following comments: “It is with great joy and pride that we welcome Trustelem and its team to the WALLIX family. This first acquisition is a major step towards achieving our Ambition21 plan by adding a pivotal technology to our portfolio. Positioned on the key sectors of cyber-security and cloud access management, the Trustelem Connect offering is the key to accessing all business processes, with its ease of use in SaaS mode and highly competitive cost of ownership. It also enables identity and access management services to be offered to a broader public, including mid-sized organizations, multinational subsidiaries and SME/SMIs.”
Grégory Haïk, Chairman of Trustelem, said: “We have found the ideal partner to accelerate the roll-out of our offering. WALLIX's market strength in France and overseas will enable our solution to reach new heights on a commercial level. In essence, our clients entrust us with one of the most critical processes in terms of cyber-security – user authentication and access control. The WALLIX brand and reach will be key success factors for Trustelem, which can now harbor global ambitions.”
Next publication: H1 2019 turnover, July 25, 2019
Trustelem, a French startup founded in 2013, publishes and operates a cloud solution for digital identity management aimed at businesses and organizations. Trustelem IDaaS (Identity-as-a-Service) facilitates clients' management of their application networks and helps them to streamline identity and access management and secure their IT assets. The solution incorporates a set of pre-integrated cloud apps, including G Suite, Office 365, Salesforce, Facebook Workplace and more. It interfaces with corporate directories such as LDAP, Active Directory and Azure AD and can support multiple authentication mechanisms that can be customized to client requirements.
A software company providing cyber security solutions, WALLIX Group is a European specialist in privileged account governance.
In response to recent regulatory change (NIS/GDPR in Europe and OVIs in France) and the cyber security threats affecting all companies today, Bastion helps users protect their critical IT assets: data, servers, terminals and connected objects. It is the first market solution to have been awarded first-level security certification (CSPN) by France's National Cybersecurity Agency (ANSSI) and thus meet all of the criteria for regulatory compliance
WALLIX accompanies more than 770 companies and organizations on a day-to-day basis. Its solutions are marketed through a network of more than 160 resellers and trained and accredited integrators. Listed on Euronext under the code ALLIX, WALLIX Group is a leader on the PAM market with a strong presence throughout Europe and EMEA. Alain Afflelou, Dassault Aviation, Gulf Air, Maroc Telecom, McDonald's, Michelin, and PSA Peugeot-Citroën trust WALLIX to secure their information systems.
WALLIX Bastion was a winner at the 2016 Computing Security Awards and has been rated Best Buy by SC Magazine, as well as being named among the PAM leaders in the Product and Innovation categories of the KuppingerCole 2017 Leadership Compass report. The company is a member of Bpifrance Excellence, a champion of the Pôle Systematic Paris Region cluster and a founding member of the Hexatrust grouping of cyber security companies. In 2017, WALLIX Group was included in Forbes France's Futur40 ranking of fastest-growing listed companies.
For more information, visit the WALLIX website at: www.wallix.com