Oracle to acquire online security outfit Bharosa
19 July 2007 | 3931 views | 0
Oracle has agreed a deal to acquire California-based Bharosa, a privately-held provider of fraud detection and multi-factor online authentication technology. Financial terms of the transaction were not disclosed.
Bharosa, which was founded in 2003, provides online security technology to firms in the financial services, e-commerce, healthcare and government sectors. Oracle says the Bharosa software is used by more than 25 million users worldwide.
Following the acquisition Oracle says Bharosa's Tracker and Authenticator software will continue to be available on a standalone basis, but will also be integrated with its existing identity management and Web-based authorisation systems.
Hasan Rizvi, vice president, identity management and security products, Oracle, says: "We expect Oracle and Bharosa, together, to provide enterprises with a comprehensive identity management solution that integrates proactive, real-time fraud prevention."
"Companies need new mechanisms that complement their existing security solutions so that they can better protect themselves from insider threats and misuse from privileged users," adds Jon Fisher, CEO, Bharosa.
The transaction is subject to customary conditions and is expected to close in August 2007.
The acquisition comes just weeks after Bharosa inked a deal with Oracle-subidiary i-flex solutions, which will see the authentication technology integrated with the Flexcube core banking platform.