PGP buys TC TrustCenter
US vendor PGP Corporation has acquired German TC TrustCenter GmbH and its American parent company, ChosenSecurity. The financial terms of the deal, however, have not been disclosed. TC TrustCenter is one of six certification authorities (German language link) accredited under German Signature Law. It is, therefore, authorised to issue the certificates required for qualified electronic signatures. In addition to certificates, the vendor also offers various Public Key Infrastructure (PKI) products including web applications for small and medium businesses.
In mid 2006, the firm started certifying Windows and Java applications for mobile devices, followed by Symbian a year later. In 2005, TC TrustCenter filed for bankruptcy and was taken over by GeoTrust. When VeriSign purchased the company a year later, TC TrustCenter was re-established under its previous name.
The take-over allows PGP to extend its range of authentication and encryption products to include certification services. The almost 60 jobs at TC TrustCenter and the vendor's Hamburg head quarters are to be preserved. There are no official revenue figures for the two companies. However, revenue figures have been estimated to be €5 million for TC TrustCenter and between $50 and $100 million for PGP.
- PGP Corporation acquires TC TrustCenter & ChosenSecurity, press release from PGP Corporation.