OpenTrust to be Acquired by Keynectis
July 2011 by Marc Jacob
Keynectis announced that it has entered into exclusive discussion to acquire OpenTrust, the recognized market specialize in trusted infrastructure solutions for enterprise and government.
The complementarity of products and services of the two companies will enable Keynectis to accelerate its growth, both domestic and international where the OpenTrust brand is already highly recognized. This acquisition will increase Keynectis’ export sales to over 30% of total revenues.
“The acquisition of OpenTrust by Keynectis will enrich the product offering for our customers and will considerably boost the delivery of OpenTrust products in SaaS mode. This merger is a unique opportunity to build the European leader of Trusted Infrastructures able to conquer international markets rapidly”, said Olivier Guilbert, CEO of OpenTrust.
“This acquisition project has all ingredients necessary for success“, said Pascal Colin, CEO of Keynectis. “Both companies, located in Issy-les-Moulineaux, the French Silicon Valley, have a strong common background. Combining the products of the two companies will result in a portfolio that will meet broader market needs. Moreover, this operation is backed by Keynectis shareholders that are key players in the Trust & Security marketplace“.
The two companies are assisted in their negotiations by Oddo Corporate Finance and ReedSmith, respectively investment bank and legal advisor for Keynectis, and Cannacord and Chamas & Marcheteau, investment bank and legal advisor for OpenTrust.
OpenTrust is primarily funded by leading investment funds: Iris Capital, GemVentures, Crédit Agricole Private Equity, Elaia Ventures, Seeft Ventures and 123Venture.
Keynectis shareholders are Gemalto, Morpho (Safran Group), CDC (Caisse des Dépôts et Consignations), Euro-Information (Crédit Mutuel-CIC Group), TDH (Thierry Dassault Holding) and Imprimerie Nationale (National Printing Group). M. Thierry Dassault is Chairman of the Board.
The transaction is due to close this summer with Keynectis acquiring 100% of OpenTrust