Hitachi, Ltd. (NYSE:HIT)(TOKYO:6501)("Hitachi") today announced
that it has acquired a majority ownership interest in M-Tech
Information Technology, Inc. ("M-Tech"), a leading provider of
identity management software and services. The transaction adds
M-Tech´s identity management software and services to Hitachi´s
information security solutions portfolio.
Effective April 2, 2008, M-Tech´s name has been changed to Hitachi
ID Systems, Inc. ("Hitachi ID").
With stricter regulations requiring stronger internal controls and
more effective privacy protection in corporations and government
agencies alike, organizations are expanding their investment in
information security. According to a February 2008 Forrester Research
report (1), the identity and access management (IAM) market is
expected to grow from nearly $2.6 billion in 2006 to more than $12.3
billion in 2014.
"Hitachi is increasingly focusing on its software and solution
businesses in systems management and information security to introduce
solutions aimed at the achievement of a broad and secure information
society," said Masato Saito, Executive General Manager, Information &
Telecommunications Systems Group (ITSG), Hitachi, Ltd. "Hitachi has
developed and commercialized advanced IT security technologies such as
finger vein biometric authentication, which is already used for ATM
authentication in about 80 percent of Japanese financial institutions
that have adopted biometric authentication technologies for this
purpose. Hitachi believes that M-Tech´s identity management technology
will be an integral component of Hitachi´s information security
solution offering."
As a leading identity management software and services provider,
M-Tech enables its customers to strengthen their network security,
lower operating costs and improve user productivity. Customers achieve
these results by implementing automation and self-service processes to
more effectively manage user passwords and access rights. M-Tech´s
identity management products, including its P-Synch password
management software and ID-Synch user provisioning software, have been
deployed by around 700 organizations worldwide.
Hitachi ID intends to build on M-Tech´s leadership in the identity
management marketplace, and grow M-Tech´s business globally by
leveraging Hitachi´s brand and market channels and by developing new
opportunities in collaboration with other Hitachi Group companies
worldwide. These opportunities may include joint offerings and other
initiatives with Hitachi´s biometric, RFID, smart card and other
security-related technologies.
"M-Tech is a leader in the identity management software market. We
welcome the addition of M-Tech to the Hitachi family and to the
information security solutions portfolio that Hitachi proudly offers
our clients." stated Mitsuo Yamaguchi, Vice President and Executive
Officer, Information & Telecommunication Systems Group (ITSG) of
Hitachi, Ltd.
"We are pleased to join the information technology group of
Hitachi, Ltd. The combination of M-Tech´s leading identity management
software and Hitachi´s global reach and authentication technology are
sure to benefit our customers," said Gideon Shoham, CEO of M-Tech, now
Hitachi ID. "We look forward to delivering the most advanced identity
management software and services to the global marketplace, as part of
the Hitachi group."
(1): Forrester Research: Identity Management Forecast: 2007 to
2014; February 6, 2008; by Andras Cser and Jonathan Penn
ABOUT HITACHI
Hitachi, Ltd. (NYSE:HIT)(TOKYO:6501), headquartered in Tokyo,
Japan, is a leading global electronics company with approximately
384,000 employees worldwide. Fiscal 2006 (ended March 31, 2007)
consolidated revenues totaled 10,247 billion yen ($86.8 billion). The
company offers a wide range of systems, products and services in
market sectors including information systems, electronic devices,
power and industrial systems, consumer products, materials and
financial services. For more information on Hitachi, please visit the
company´s website at http://www.hitachi.com.
