MYHSM to be acquired by IT security solutions provider Utimaco

By Megha Bhattacharya

Payment HSM as a Service provider MYHSM has been acquired by IT security solutions Utimaco. The acquisition is expected to accelerate Utimaco’s Cloud and as-a-Service offering and integrate MYHSM’s employees and customers with the IT security provider’s business.

“The increased speed of digitization in 2020 increases the need for organizations to define their cloud strategy and make use of the flexibility as well as the potential for cost reduction that an as-a-Service model can offer. This does include security solutions, and we want to provide our customers with the high standard of HSMs they know from Utimaco in whichever form they need them, be it on premise or in the cloud.” said Stefan Auerbach, Chief Executive Officer of Utimaco.

According to MYHSM, its cloud and service expertise will boost Utimaco’s existing Cloud offering, providing customers with a state-of-the-art solution along with an aim to deliver flexibility and reduced cost without compromising on security.

“2020 has been a momentous year for MYHSM with many achievements.“ said John Cragg, Chief Executive Officer of MYHSM. “We believe that being part of the Utimaco team and combining our respective offerings will benefit our customers and makes us ideally positioned for growth in 2021.”

“With the addition of MYHSM into Utimaco’s u.Cloud suite of services, Utimaco continues to facilitate the path for cloudifying cryptographic keys in a secure and compliant manner. Customers now have a path to move away from legacy on-premise HSM’s to the hybrid and public cloud” said Eyal Worthalter, Vice President Platform Solutions at Utimaco.

Recently, MYHSM announced a partnership with Compass Plus in a bid to enable payment providers to deploy cloud-based infrastructure as well as offer flexible project implementation.