Back to the future as nCipher blasts out of Thales
nCipher Security, a business originally founded in Cambridge in 1996, has relaunched as a standalone company, more than a decade after being acquired by Thales for upwards of £76 million.
The company, originally formed by brothers Alex and Nicko van Someren, was publicly listed in 2000, and relaunches as a leader in its field of hardware security modules (HSM).
The new company’s customers include 10 of the top 20 FTSE 100 companies and the technology provides security for innovation in the cloud, digital payments and the Internet of Things.
nCipher Security’s UK base will be in Cambridge and the business is looking to recruit local engineers.
Today’s fast moving digital environment offers opportunities to enhance customer satisfaction, improve operational efficiency and gain competitive advantage, but in doing so also raises new security challenges.
nCipher’s market-leading solutions and services allow organisations to keep pace with innovation while protecting their business critical assets from security breaches.
The world’s leading organisations have depended on nCipher nShield HSMs for more than 20 years to provide a root of trust for their business critical applications and meet their cybersecurity needs. Customers include five of the top 10 Fortune 100 and 10 of the top 20 FTSE 100 companies.
Organisations are also now subject to an increasing number of strict compliance mandates such as the EU General Data Protection Regulation (GDPR), California Data Breach Notification Law and Australia Privacy Amendment Act 2017.
nCipher is regarded as providing the highest level of assurance in protecting sensitive data, enabling organisations to meet these very stringent compliance controls.
CEO Cindy Provin, a 20-year ‘veteran’ at Thales, says: “I am both excited and proud to lead an innovative, agile, world-class team helping our customers as they embrace a digital future.
“nCipher nShield HSMs are a critical component in securing today’s business critical applications as well as the journey to the cloud, new digital payment methods and the internet of things.
“With high profile data breaches hitting the headlines daily and newly enforced legislation, organiaations need to get security right.”
nCipher Security is now a separate stand-alone business within Thales and held separate from the rest of the Thales Group pending its divestiture to a third party buyer.
This results from Thales Group’s offer to acquire Gemalto and the demands of a number of antitrust agencies, including the European Commission, to create a strong player in the general purpose HSM space in order to preserve competition in this important market place and continued supply and innovations to nShield customers.
Thales and Gemalto continue to work constructively with the competent antitrust authorities to obtain the remaining merger control regulatory clearances in Russia and the US.
Thales and Gemalto are also seeking regulatory clearance relating to foreign investments from the competent authority in Russia.