Home›Real Estate›Industry›SwiftConnect acquires HID SAFE to add identity governa…

SwiftConnect acquires HID SAFE to add identity governance to access platform

SwiftConnect said the deal keeps HID SAFE as a minority, non controlling holder in the company, with financial and stock terms not disclosed.

Reported · Written up by our desk · Industry

SwiftConnect, a connected access office property platform based in Stamford, Connecticut, said it has acquired HID SAFE, a company focused on managing property access. The acquisition is intended to add HID SAFE’s identity governance capability to SwiftConnect’s physical access platform, according to Commercial Observer.

SwiftConnect co CEO Matt Kopel said customers have asked for a governance layer on top of the connected network, including tools to determine where credentials and identities should go and what access should be granted based on attributes or approvals. Kopel also said HID SAFE previously took part in SwiftConnect’s Series B funding round and will hold a minority, non controlling interest after the transaction.

The companies said the transaction terms are not being disclosed. SwiftConnect will remain independent under its existing leadership, and the integration effort has already started, with both companies serving large enterprises globally.

Kopel added that while the HID name will be removed, the SAFE brand is expected to remain on the platform for now, with a long term decision to be reevaluated over the coming months. Björn Lidefelt, executive vice president and head of HID SAFE, said the companies view SwiftConnect as the partner to expand the technology’s reach.

More like this

Sources