Secure Thingz acquired by Swedish company for £20m
Cambridge-based Secure Thingz, a well regarded operator in the IoT arena and a partner of super chip powerhouse Arm, says it will continue to thrive under new Swedish owners.
IAR Systems acquired Secure Thingz – a provider of advanced security solutions for embedded systems in the Internet of Things – for around £20 million.
Secure Thingz is an alumni member of ideaSpace West in Cambridge and its corporate office is in Harston.
The business was founded in 2016 by Haydn Povey, who continues as CEO. A trusted security expert and board member of the IoT Security Foundation, Povey has held senior management roles at leading global technology companies for over 20 years, including more than 10 years at Arm.
The company’s Secure Deploy™ architecture has been developed to solve the major security issues challenging the IoT. It says its solutions ensure a cost-efficient root of trust in low-cost microcontrollers to deliver a core set of critical services through the product lifecycle, alongside secure deployment, production and update infrastructure.
Povey said: “We are very excited to become a part of the highly competent IAR Systems team. We have already established a smooth cooperation with the development of Embedded Trust, and our combined resources within technology, sales and customer support will enable us to accelerate the development of the innovative security solutions that the digital products market so desperately needs.”
IAR Systems is a world-leading provider of development tools for embedded systems. The company has customers all over the world within segments such as automotive, industrial automation, medical, consumer electronics and the IoT.
Stefan Skarin, CEO of IAR Systems, said: “By acquiring Secure Thingz, we are meeting our customers’ growing needs for products that can guarantee data security throughout the entire development and manufacturing process.”
• PHOTOGRAPH SHOWS: Haydn Povey, CEO of Secure Thingz