In a move to strengthen its hand in the market for secure electronic transactions, ValiCert Inc., a provider of digital certificate products and services, today announced plans to merge with Receipt.com, a vendor of E-commerce security products.
The merged company, which will keep the ValiCert name, will combine the validation authority technology of ValiCert and digital-receipt capabilities of Receipt.com. The company will offer clients transaction services such as validation authority, time-stamping, and digital receipts for arrival confirmation.
"Our merger will produce the first and only company to offer secure infrastructure for E-transactions end to end," says Yosi Amram, ValiCert president and CEO.
The target market of the merged company will be business-to-business procurement. Such companies as Citigroup Inc. and Deutsche Bank now use ValiCert's public key infrastructure capabilities. ValiCert hopes the merger will allow it to address non-PKI customers of Receipt.com.
Dave Jevans, president of Receipt.com expects the merger will help expand the business. "A strong synergy exists between the two companies, and the merger will allow for strong cross-selling opportunity among the customer base."
Financial terms of the deal were not disclosed.