Entrust buys Orion Security Solutions
- By William Welsh
- Jun 15, 2006
Entrust Inc. has acquired Orion Security Solutions, a supplier of public key infrastructure services, for $8 million cash. Entrust will pay an additional $1 million over the next two years if established goals are met.
The purchase is designed to extend Entrust's presence in the government sector, company officials said.
Citing the heavy demand for public key infrastructure in the government sector, Entrust Chairman, President and CEO Bill Conner said: "This is a natural move for us to solidify our leadership position in government while building upon initiatives for ePassports, HSPD-12, new online services and national ID programs."
Orion of McLean, Va., has $4 million in annual sales. Its defense and intelligence community customer base includes the Defense Department, Marine Corps and the National Security Agency.
Following the acquisition, which is expected to close today, Orion's employees will be integrated into Entrust Cygnacom, a unit of Entrust in McLean.
Entrust of Addison, Texas, has about 475 employees and had annual sales of $98.1 million in fiscal 2005, according to Hoover's Online of Austin, Texas.
William Welsh is a freelance writer covering IT and defense technology.