WILMINGTON, MA — Security Innovation, the worldwide leader in application security training and testing services, announced Tuesday that it intends to spin off its SI-Embedded business unit and create a sister company called OnBoard Security.
The company will comprise the SI-Embedded business unit that has in recent years emerged as a leading provider to the Vehicle-to-Vehicle (V2V) security, trusted computing and advanced cryptography markets. The move sharpens the strategic focus and shareholder value of both companies.
“Security Innovation is thrilled to bring OnBoard Security into the world,” said Ed Adams, CEO of Security Innovation and Chairman of OnBoard Security. “I’m confident that they will flourish and become an even more potent force for the future of IoT security. As a sister company with complementary solutions, we expect to enjoy a close and mutually profitable relationship long after the divestment.”
Peter Samson will be named president of the new company. He is currently the senior vice president responsible for the SI-Embedded business.
“We will continue to be the security expert that car makers, PC manufacturers, cryptographers and IoT companies have admired and trusted for years,” Samson said. “As an independent company, we will intensify the already laser-like focus on our niche products and global customers while accelerating the new research and development needed to continue delivering innovation and thought leadership.”
OnBoard Security products will include the award-winning Aerolink Vehicle-to-Vehicle (V2V) security libraries and related products, the NTRU post-quantum cryptography algorithm that solves the existential threat to internet security and TCG Software Stacks (TSS) that simplify the implementation of Trusted Platform Modules (TPMs). Services include Transportation Infrastructure Security Consulting, Connected and Autonomous Vehicle Security Consulting and IoT Secure Boot/Attestation Consulting.
This divestiture is expected to be completed within the first quarter.
About Security Innovation
Since 2002, Security Innovation has been the trusted partner for cybersecurity risk analysis and mitigation for the world’s leading companies. Security Innovation is dedicated to securing and protecting sensitive data in the most challenging environments – automobiles, desktops, web applications, mobile devices and in the cloud. Security Innovation is privately held and headquartered in Wilmington, MA.
For more information please visit: http://www.securityinnovation.com.
(NOTE: The above press release is from Security Innovation.)
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