Feb 14 , 2011

Online authentication company SecureKey Technologies Inc. receives an investment from Intel Capital

TORONTO--Toronto based SecureKey Technologies Inc.announced an investment from Intel Capital, Intel Corporation's global investment organization, Terms of the investment were not disclosed.

SecureKey designs hardware and software solutions to enable the strong cryptographic capabilities of debit, credit and identity smartcards including those within NFC based phones to be used for online authentication and online purchases. "Contactless cards and the NFC movement is growing rapidly around the world." said George Thangadurai, General Manager of Intel's PC Client Services Group. "SecureKey's solutions provide a powerful user experience that can be delivered across platforms improving both the security and convenience of online transactions."

"We are thrilled with our association with Intel." said Greg Wolfond, CEO of SecureKey Technologies. "Intel is the world leader in providing the chips and technologies that power the computing devices we use every day."

Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.8 billion in over 1,100 companies in 48 countries. In that timeframe, 189 portfolio companies have gone public on various exchanges around the world and 258 were acquired or participated in a merger. In 2010, Intel Capital invested US$327 million in 119 investments with approximately 44 percent of funds invested outside the U.S. and Canada.

SecureKey develops innovative hardware and software solutions that extend the power of chip-based identity and payment credentials to online and mobile transactions. With SecureKey, financial institutions, card issuers, merchants, health care providers and government organizations can now offer their online customers the convenience and security of touch-to-pay instant checkout and strong mutual authentication. SecureKey's solutions leverage the service provider's investments in smartcard and mobile NFC technologies, as well as existing consumer behaviour learned from in-store transactions. SecureKey is a privately held company with offices in Toronto, Ontario.

 

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