Netegrity acquisition aims for access automation
Published: 05 Jan 2004 13:20 GMT
Identity and access solutions firm Netegrity is to acquire Business Layers, a business process automation company, for $42.5m.
By automating business processes -- also known as e-provisioning -- companies can save time and money. For example, as soon as a new employee file is created in an HR application, a system could automatically allocate a telephone extension, open an email account, order business cards and request a security pass for the new worker.
Combining Netegrity's identity and access products with Business Layers' eProvision software is an obvious match; the two companies have been licensing and cross-selling each other's products for more than a year.
Barry Bycoff, Netegrity's chief executive, said in a statement that his company will increase the integration of the two product lines: "Today, customers need effective solutions to solve their specific access management, identity administration, and provisioning needs. However, the market is clearly evolving to an integrated identity and access management solution that spans the enterprise and beyond."
Izhar Shay, co-founder and chief executive of Business Layers, said that following the two companies' successful licensing deal, which was signed more than a year ago, this development is a "natural progression".
Under the terms of the acquisition, Netegrity will pay $15m in cash and $27.5m in shares.
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