HomeCyber BalkansTitle: Entrust in talks to acquire Onfido, Incognia secures $31 million in...

Title: Entrust in talks to acquire Onfido, Incognia secures $31 million in funding.

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Entrust, a Minneapolis-based identity, payments, and data security firm, has entered into discussions to acquire Onfido, a London-headquartered digital identity verification company. Entrust’s president and CEO, Todd Wilkinson, stated that Onfido’s identity verification solutions have proven their value in Europe’s high-compliance environment, and with the proposed acquisition, Entrust would have the opportunity to provide unmatched identity security solutions at a time when they are needed most. The potential acquisition further underscores the increasing importance and demand for identity verification solutions among enterprises and institutions.

Additionally, Australian tech company Spirit Technology Solutions has acquired Sydney-based cybersecurity firm InfoTrust. InfoTrust will merge with Spirit’s cyber division, Intalock, to expand their human talent and capabilities related to Security Operations, Managed Services, and Incident Response, particularly with the recent opening of a state-of-the-art Security Operations Centre (SOC) by Intalock. This acquisition will likely bolster Spirit Technology Solutions’ position in the cybersecurity market and enhance their ability to provide comprehensive services to clients.

In a separate acquisition, SentinelOne has completed their acquisition of PingSafe, a cloud-native application security platform. This merger is expected to enhance SentinelOne’s security offerings and expand their reach in the application security market.

On the investment front, San Jose-based Incognia, a company specializing in using location mapping for fraud prevention, has raised $31 million in a Series B round led by Bessemer Venture Partners. This funding will support Incognia’s continued development of digital identity signals and expand the company’s presence across North America, Europe, and EMEA, as well as into new verticals such as consumer internet, financial services, and eCommerce. This investment reflects the growing significance of location-based fraud prevention in the digital landscape.

Furthermore, Reken, a San Francisco-based startup dedicated to countering threats from generative AI, has secured $10 million in a seed funding round led by Greycroft and FPV Ventures. Reken, which is still in stealth mode, plans to unveil its product later this year and will use the secured funding for research and development, indicating the investors’ confidence in the company’s potential to address emerging cybersecurity challenges.

In terms of executive moves, several cybersecurity firms have announced key appointments. Wiz has hired Dali Rajic as president and Chief Operating Officer, bringing with him his previous experience as COO at Zscaler. Swimlane has appointed Chris Hoff as its Chief Revenue Officer as part of their efforts to ramp up Fortune 500 adoption. Logpoint has hired Sean Muirhead as Chief Product Officer, while Neuvik Solutions added Jean-François Maes as Director of Advanced Assessments in Europe. Additionally, Netskope has brought on Jenn Jakubowicz as Senior Director of Global Channels & Alliances Marketing, and Palo Alto Networks has appointed Sarene Lee as its leader for Malaysia, highlighting the ongoing talent acquisitions within the cybersecurity industry.

Overall, these developments in acquisitions, investments, and executive appointments underscore the evolving landscape of cybersecurity and the increasing emphasis on identity verification, application security, and fraud prevention in today’s digital economy. This trend reflects the growing recognition of cybersecurity as a critical component of business operations and the ongoing efforts to stay ahead of emerging threats and security challenges.

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