Keyfactor-PrimeKey Merger Creates Machine Identity Management Platform

The upcoming Keyfactor–PrimeKey merger, fueled by a $125 million growth round, will deliver a management solution for machine identity.

The two companies are merging under the Keyfactor brand. The Keyfactor-PrimeKey merger, which forms a machine identity management platform, combines Keyfactor’s certificate life cycle automation with PrimeKey’s public key infrastructure (PKI) certificate authority software.

The new platform will offer end-to-end machine identity management. The companies aren’t disclosing the value of the  merger, which should close within the next 90 days.

The $125 million growth infusion, led by Insight Partners, adds to its initial $77 million investment in Keyfactor in 2019.

BJ Ferguson is Keyfactor‘s vice president of global channel sales and operations.

Keyfactor’s BJ Ferguson

“This merger will create a lot more opportunities for our partners globally,” he said. “While Keyfactor has built a tremendous brand in North America, PrimeKey has done the same in EMEA and APAC. Bringing these two brands together will give our partners the chance to offer a holistic PKI and machine identity solution for their customers with support that spans globally.”

Complementary Offerings

Keyfactor and PrimeKey products and services are complementary to one another, Ferguson said. That’s one of the reasons why the companies first partnered on a technical integration announced last year.

“From a product standpoint, merging the product lines brings an industry-first machine identity platform to market,” he said. “Customers and partners gain value-add through a broader range of capabilities to meet evolving use cases, positioning us and our partners more competitively with expanded product offerings and global distribution channels.”

PrimeKey employees will join Keyfactor. Jordan Rackie will continue to lead the organization as CEO. Magnus Svenningson, PrimeKey CEO, will assume the role of chief strategy officer and executive vice president of business development. The combined company will have a global presence with offices in the United States, EMEA and Asia Pacific.

“Everything our customers enjoy about our partner relationship remains, and we will only be adding more opportunities to work together, Ferguson said.

“Now more than ever, enterprises must operate in a zero-trust world, and machine identity management can no longer be ignored as part of an identity and access management (IAM) strategy,” Rackie said. “The merger with PrimeKey amplifies the performance of the combined businesses across product offerings, distribution channels, expertise for our customers and large open source communities.”