Equifax Inc. (NYSE: EFX) announced today it has acquired Anakam®, Inc., a leader in large-scale, software-based, multi-factor authentication solutions and recognized recently by Inc. magazine as one of the fastest-growing private companies in America. Terms of the transaction, which the companies completed October 1, were not disclosed.
The global identity management market, spurred by increases in online commerce and information sharing, has become a large and growing market. With the combination of Anakam's Identity Suite® and Equifax's eIDverifier service, the company will be able to provide an industry-unique single, integrated platform for two-factor identification as well as no-touch, risk-based identity verification and identity proofing.
Anakam has focused on industries, including government and healthcare, where traditional solutions have been inadequate in verifying and authenticating large and diverse web users. The company created a revolutionary authentication platform that is secure, scalable, and easy-to-deploy and use, eliminating the need for hard tokens or the downloading of software.
Founded in 2004, Anakam is headquartered in San Diego, with additional offices in Arlington, VA. It will become a division of Equifax, and become part of the company's Technology and Analytical Services organization.
"Leveraging Anakam's solutions and highly-experienced management team alongside Equifax's decisioning technology platforms, market presence and financial strength will allow us to broaden our portfolio of solutions in this large and rapidly-growing market," said Rajib Roy, President, Equifax Technology and Analytical Services. "With Anakam, Equifax will become a premier provider of cloud-based authentication solutions."
Equifax has been an innovator in identity proofing, verifying more than 60 million identities annually. Anakam's unique software adds a secure, cost-effective solution that can scale to millions of users while eliminating the need for cards and tokens.
"The acquisition by Equifax marks an exciting new direction, one in which we are jointly taking identity services and trusted business enablement to the next level," according to Allan Camaisa, President and CEO of Anakam. "Our global customers and prospects are making critical decisions on how to establish ish trust and reduce fraud as they move their business operations online to eliminate costs, increase efficiency and improve quality. The intellectual property that Equifax and Anakam bring together around a single, integrated platform for identity proofing and multifactor authentication will be a powerful force in the exploding consumer authentication marketplace."